Türkiye aims for balanced trade, stronger cooperation with China

Türkiye’s Minister of Treasury and Finance Mehmet Simsek expressed optimism for strengthening Türkiye-China cooperation, underscoring the importance of balanced trade, mutual investments and regional stability.

Speaking at the second Türkiye-China Intergovernmental Cooperation Committee (HIK) meeting, held in Beijing, Simsek emphasized that an enhanced partnership between the two nations would not only benefit both countries but also promote global peace and economic stability.

Historic partnership anchored in Silk Road legacy

Simsek highlighted the historical and cultural ties shared Türkiye and China, which span millennia as two anchors of the ancient Silk Road. He conveyed gratitude for China’s support during Türkiye’s February 2023, noting that China was one of the first to extend aid.

Goals for balanced trade and strategic sector collaboration

The HIK meeting focused on establishing a sustainable trade framework, with Türkiye aiming for a “more balanced” trade with China. Simsek outlined the significance of increasing mutual investments and strengthening ties in key sectors, including energy, infrastructure, civil aviation and agriculture.

Additionally, Simsek expressed Türkiye’s interest in welcoming more Chinese tourists, emphasizing that increased flight connections could further deepen the historic bonds between Turkish and Chinese communities.

Broader economic collaboration and attracting foreign investment

Simsek outlined Türkiye‘s ambition to position itself as a natural hub for international investments. Türkiye’s robust infrastructure, strategic location, and skilled workforce, he noted, make it an attractive destination for foreign investors.

Shared vision for regional peace and security

Vice Premier of China, Zhang Guoqing, echoed the sentiment, emphasizing that Türkiye and China, as key players in the Global South, hold shared perspectives on global justice and equality.

Guoqing acknowledged the growth in political trust between Türkiye and China, citing the nations’ alignment on issues like the Israel-Palestine conflict and the Ukraine crisis.

The economic partnership between Türkiye and China has flourished, with trade volume doubling since 2015, reaching $44 billion in 2023.

Meeting of the joint working group on Belt and Road Initiative

The two nations also held discussions to align Türkiye’s Middle Corridor Initiative with China’s Belt and Road Initiative, establishing a joint working group to advance connectivity through infrastructure and green energy projects.