"The construction of this project will contribute to developing the region and will be useful in facilitating the interests of China and the countries in Eastern and Central Europe. Rail construction will also play a role in improving logistics between the four countries and is set to facilitate the flow of people, goods and capital. The project at the same time will allow the establishment a corridor and a route in order goods to be traded between China and Europe. We hope more such routes will be introduced in the future," said Chinese Prime Minister Li Keqiang.

The project, he added, is also intended to boost cooperation, because "the high-speed bullet train will serve as a driving force of the economies of the countries included in the route."

Macedonia's Premier Nikola Gruevski said the realization of this project was of crucial importance for the region, but also for Europe and PR China.

"It is a crucial project for the economy of the region, its people, the companies and for everybody else, because it will change a lot of things related to transportation, movement of people and goods and will help the countries to move forward," noted Gruevski.

The project could positively affect the economic development of Macedonia, said Deputy PM and Finance Minister Zoran Stavreski adding that it has stirred up the country's interest from that point of view. "Taking into account that there is lack of information over the model and manner of funding, the financial construction and the participation of countries concerned, we will make the proper analyses and present our position upon receiving this information," Stavreski stated.

Serbian Prime Minister Aleksandar Vucic said the time needed to get from Belgrade to Budapest would be reduced to more than two hours after introducing the bullet train. Now, it takes over eight hours.

"The high-speed rail will allow a different kind, fresh connection between Serbia and its friends from Hungary, Macedonia and Greece as well as a new one and more significant connection with Europe. Every major infrastructural investment brings large-scale economic benefits," Vucic stated thanking Macedonia and Greece for their understanding.

His Hungarian counterpart Viktor Orban called today's signing of the agreement "an important day for his country", because it would improve the position of his country.

"I'm convinced that the cooperation between Europe and China will be improved through this railroad," he said