Economic cooperation a priority in Turkey-China relations
President Erdoğan said Turkey and China had signed several agreements that aim to promote and protect bilateral investments, boost economic and commercial cooperation and a medium-term development plan. A memorandum of understanding to establish a cooperation mechanism was signed by the deputy prime ministers of the two countries, which Erdoğan described as very important, noting that the deal allowed the two countries to track progress in mutual cooperation. He said that in this way the strategic cooperation agreement signed between Turkey and China in 2010 would proceed at an accelerated pace.He said certain developments had prevented progress on the strategic cooperation agreement.
"As of the end of 2014, the bilateral trade volume was $28 billion. However, the trade gap is something like $22 billion. We can close this gap by increasing Chinese investment in Turkey," he said.
The two sides had reached a deal to facilitate investments in 10 separate infrastructure projects worth $40 billion and China had agreed to provide a 25-year repayment program with no interest for the first seven years, Erdoğan said. "We hope to realize these projects after this agreement," he added.
He also mentioned the agreement signed between Huawei and Turkcell as an example of growing cooperation between Turkish and Chinese firms, voicing his hope that the research and development personnel employed by the firm in Turkey would rise from 370 to thousands. "China may become the most powerful country in the world in the next decade or two. It has a population of 1.4 billion. I brought up the possibility of founding a Turkish-Chinese university, which they received positively," Erdoğan said, adding that the university should focus on health and technology. He said such an educational institution would encourage students in the two countries to learn each other's languages.
One of the 10 projects of cooperation Erdoğan found particularly important involves Turkey's railway network. He said the two sides were in discussion on the building of important sections of the railway network, which would be part of the railway line linking Beijing to London. The Chinese were interested in being involved in several railway projects in Turkey. Erdoğan said the health, nuclear energy and automotive sectors also offer a good avenue for joint initiatives.
"As of the end of 2014, the bilateral trade volume was $28 billion. However, the trade gap is something like $22 billion. We can close this gap by increasing Chinese investment in Turkey," he said.
The two sides had reached a deal to facilitate investments in 10 separate infrastructure projects worth $40 billion and China had agreed to provide a 25-year repayment program with no interest for the first seven years, Erdoğan said. "We hope to realize these projects after this agreement," he added.
He also mentioned the agreement signed between Huawei and Turkcell as an example of growing cooperation between Turkish and Chinese firms, voicing his hope that the research and development personnel employed by the firm in Turkey would rise from 370 to thousands. "China may become the most powerful country in the world in the next decade or two. It has a population of 1.4 billion. I brought up the possibility of founding a Turkish-Chinese university, which they received positively," Erdoğan said, adding that the university should focus on health and technology. He said such an educational institution would encourage students in the two countries to learn each other's languages.
One of the 10 projects of cooperation Erdoğan found particularly important involves Turkey's railway network. He said the two sides were in discussion on the building of important sections of the railway network, which would be part of the railway line linking Beijing to London. The Chinese were interested in being involved in several railway projects in Turkey. Erdoğan said the health, nuclear energy and automotive sectors also offer a good avenue for joint initiatives.
Last Update: July 30, 2015 23:37