THE POSITION OF THE VISEGRAD GROUP STATES IN THE ”INITIATIVE 17+1”

Abstract

China has formed the “17 + 1 Initiative” in order to connect more closely with the countries of Central and Eastern Europe. In addition to China, almost all countries of Eastern, Central and Southeastern Europe are gathered within this initiative. This initiative represents a political framework of cooperation whose purpose is the realization of large economic and investment projects through the “Belt and Road Initiative”. By entering new markets, China achieves security in the development of its economy, because it enables it to maintain a high level of production and at the same time a place to sell its products. The countries of the Visegrad Group have an important place for China, because they represent a bridge to the markets of Western Europe. These countries are members of the European Union, but cooperation with China is a good alternative for them to be less dependent on economic cooperation with Western European countries. On the other hand, China can more easily establish cooperation with these countries than with the countries of Western Europe, because they still need large investments. For the countries of the Visegrad Group, China is a new market on which they can easily place goods, thus ensuring stable economic functioning. In addition, they need to rebuild their infrastructure, and large Chinese investment projects are focused on that area.