Finance Minister Simsek to discuss boosting bilateral ties in high-level talks in China
Turkish Treasury and Finance Minister Mehmet Simsek delivers remarks as he attends an event at the Brookings Institution in Washington DC, United States on October 25, 2024. (AA Photo)
Treasury and Finance Minister Mehmet Simsek is set to visit Beijing to participate in the Second Meeting of the Türkiye-China Intergovernmental Cooperation Committee (HIK), the highest-level consultation mechanism between the two countries.
The meeting will be co-chaired by Simsek and Chinese Vice Premier Zhang Guoqing, with senior officials from both nations’ relevant ministries in attendance. This committee, established by a 2015 memorandum, focuses on prioritizing areas of cooperation and enhancing bilateral communication.
Key discussions on trade and investment
Simsek’s agenda includes participating in a Joint Working Group meeting on Wednesday to discuss the alignment of Türkiye’s Middle Corridor Initiative with China’s Belt and Road Initiative.
This meeting, a first within the framework of the 2015 memorandum signed in Antalya, will cover air and road connectivity, green transformation, energy, industry and investment cooperation, alongside broader trade and economic topics.
The committee aims to create a more balanced trade relationship and explore investment opportunities from China.
Meeting with Chinese financial leaders
On Nov. 7, Simsek will co-chair the HIK’s second meeting and engage in bilateral discussions with high-profile Chinese officials, including Vice President Han Zheng and Asian Infrastructure Investment Bank President Jin Liqun.
He is also expected to meet with top executives from major Chinese financial and investment companies, including ICBC and Bank of China. The talks will focus on bolstering economic and commercial ties, fostering new partnerships, and discussing regional and global issues of mutual interest.
Türkiye-China economic ties and future cooperation
China is Türkiye’s largest trade partner in Asia and its third-largest globally, with bilateral trade surpassing $48 billion in 2023. Simsek’s discussions will seek to develop a more sustainable trade balance and attract investment from China.
The visit comes at a significant time, following last month’s BRICS Summit and ahead of the upcoming G20 Summit, highlighting its strategic importance for future bilateral relations.
