Turkiye and China are increasing their economic and trade relations – with leaders targeting more growth in the near future. Over the past few years Chinese investment, especially in infrastructure, has been significant for Turkiye. Business leaders in Turkiye see great potential for growth in trade between the two countries, particularly exports to China. Our Michal Bardavid reports.
Turkiye, acting as a bridge between Europe and Asia, holds significant potential for cooperation with China's Belt and Road Initiative, which focuses on regional connectivity.
In 2015, three state-owned Chinese companies acquired a 65 percent stake in Kumport, Turkiye's third-largest container terminal strategically located between the Black Sea and the Mediterranean Sea. This investment has become a key project within the Belt and Road Initiative.
China's investments in Turkish infrastructure projects have also greatly benefited travelers. In 2014, collaborating with two Turkish companies, the China Railway Construction Corporation and the China National Machinery Import and Export Corporation completed the construction of a high-speed railway connecting Istanbul and the capital, Ankara. Additionally, a high-speed metro line linking Istanbul to the city's international airport, constructed by Chinese companies, became operational in January of this year.
MICHAL BARDAVID, Antalya "Besides mega-intergovernmental investment projects, China is Turkiye's third-largest trading partner globally. Business leaders in Turkiye emphasize the significant potential for growth in trade between the two countries, particularly in increasing Turkiye's exports to China."
Korhan Kurdoglu, is the chairman of the Chinese Business Council of the Foreign Economic Relations Board of Turkiye (DEIK), he is also the chairperson of Turkiye's largest investor in China – ATA holding.
KORHAN KURDOGLU, Chairman, Chinese Business Council of the Foreign, Economic Relations Board of Türkiye (DEIK) "I believe that Turkish and Chinese people collaboration is creating an incredible synergy and power for doing businesses within the countries as well within third countries, as joint ventures, as partners; we can create a lot value together."
Turkish companies are also eager to close the trade gap between the two countries, as Turkiye's exports to China were around 3.2 billion dollars in 2022, while imports were over 41 billion dollars.
AHMET FARUK ISIK, Research Assistant, Shanghai Academy of Global, Governance and Area Studies (SAGGAS) "I encourage Turkish companies to participate in the China International Import Expo this year in November. This is a great chance for Turkish exporters to increase their exports to China and when we look at the two markets, China is the 2nd largest economy in the world. With a really large middle-income population, this is a great chance for Turkish companies."
China's top diplomat Wang Yi is visiting Turkiye to meet with high-level Turkish officials, providing the leaders with an opportunity to discuss ways to further enhance bilateral ties. Michal Bardavid, CGTN, Antalya.
Author | Ahmet Faruk ISIK, Business Council Coordinator, Foreign Economic Relations Board of Türkiye (DEIK), Ph.D. Candidate at comparative politics and area studies, Shanghai International Studies University and research assistant of Shanghai Academy of Global Governance and Area Studies (SAGGAS).
Source | Business Diplomacy
