Deputy prime minister in charge of the economy, Mehmet Şimşek, was appointed as the co-president of the Intergovernmental Cooperation Committee by Prime Minister Ahmet Davutoğlu. According to Anadolu Agency (AA), the committee was founded as a result of the meetings between the deputy prime ministers of Turkey and China in order to improve relations in the fields of politics, economy, security, culture, tourism and others, as well as develop more robust bilateral collaboration.

Şimşek will meet China's Deputy Prime Minister Wang Yang in Beijing on Feb. 28. In addition to the bilateral relations, the two are expected to discuss developments in the Chinese economy and their effects on the global economy.

Şimşek also traveled to Shanghai in order to attend the G20 Finance Ministers and Central Bank Governors' Meeting, being held from Feb. 26-27. The meeting will include discussion on eight different sessions titled the global economy; strong, sustainable and stable growth frameworks; investment and infrastructure; international financial architecture; financial regulations; international taxation issues; struggles with the financing of terrorism; and green financing and the financing of climate change. Turkey will attend this year's meetings as a G20 Troika member due to its G20 2015 presidency.

In addition to the G20 meeting's official program, Şimşek will attend a high-level seminar about structural reforms organized by China's G20 2016 presidency, the International Monetary Fund (IMF) and the Organization for Economic Co-operation and Development (OECD).