Turkey seeks ‘more balanced trade’ with China

Turkey seeks ‘more balanced trade’ with China

Turkey seeks ‘more balanced trade’ with China

Turkey has posted a deficit in its trade with China and Ankara is looking to establish a more balanced trade with Beijing, Trade Minister Ruhsar Pekcan said.

Speaking at the Turkey-China Business Forum in the western province of İzmir on Sept. 6, the minister noted that Turkey shipped $3 billion worth of goods to China while its imports from this country totaled $20 billion last year.

“We have a trade deficit with China, which has become Turkey’s third largest trading partner after Germany and Russia,” she said.

Pekcan underlined that 61 Chinese companies have investments in Turkey, totaling at $1.56 billion.

“Last year, Chinese companies’ investments across the globe stood at $129 billion. But Chinese investors are slow to invest in Turkey. I also want to appeal to Turkish companies. If China is not too far to buy [goods] then it is not too far to sell [goods],” she told the forum.

The Turkey-China business forum was held on Sept. 6 as part of a series of events organized during the 88th İzmir International Fair.

Delegations from the two countries had a “very successful” meeting and they agreed to take some “serious steps,” Pekcan said.

“Sixty-one Chinese companies from nine Chinese provinces attended the fair with 150 staff. Those firms held fruitful talks with local businesses,” she added.

More Turkish agro products

Li Chenggang, Chinese assistant minister of commerce, noted that Turkish cherries have already been introduced to the Chinese market and more would follow.

“Turkish pistachio and dairy products will be made available to Chinese consumers,” he said.

“Cooperation between the two countries in the field of investment has gained traction. Tourism particularly offers immense opportunities. China declared 2018 as ‘Turkey Year’ and 400,000 Chinese tourists visited Turkey,” he added.