China, an ocean of opportunities for Turkey

Speaking at the press launch of the report entitled "The Dragon and the Crescent in the Asian Century, A Roadmap for the Development of Turkey-China Economic Relations," Foreign Economic Relations Board (DEİK) Chairman Ömer Cihad Vardan said: "China is as much an ocean of opportunity for Turkey as it is for everyone with its current economic data."

Vardan suggested that Turkey needs to get a share of trade and investment flow from the emerging Asian markets and to strengthen its presence in the region in order to achieve its economic goals.

Noting that not only China but all Asia-Pacific countries have become a necessity for Turkey's foreign trade rather than a preference, Vardan said, "We all know that Turkey, with its geographical location and its interaction with economic blocks, is in the best state to evaluate the opportunities in this region." Stressing that both in political and economic terms, Turkey's presence in the region is getting stronger along with its increased contacts and business connections with the region, Vardan said Turkey's next target should be transforming its trade-based economic relations with regional countries into a permanent mutual investment-centric relationship model.

Vardan explained that a higher-volume, higher-quality and higher-added-value economic cooperation should be established with China. He also added that Turkey's 2023 vision and China's 2025 vision have revealed the necessary synergy between the two countries, and that the increased dialogue, consultation and communication between the two countries have recently provided a favorable environment in order to move the economic cooperation to higher levels.

DEIK President Vardan, touching on the importance of historical relations between Turkey and China, said, "Shanghai and Istanbul, which bring together the two sides of the historical Silk Road, can write a new history. In this context, it looks like we will be talking more about China and Asia-Pacific in 2017."

Vardan said trade with national currencies has started to be widely spoken, and that the usage of national currencies with big commercial partners, whose official currencies are not dollars or euros, has come into prominence as a result of the developments in the world politics.

Vardan recalled that a currency exchange agreement between Turkey and China was signed in 2012, and in this context, the first currency exchange of TL 450 million ($123 million) between the Central Banks of the two countries took place on Nov. 30. "I see this as an important step. I hope that this development will be an instrument that will open different doors of opportunity for us in the future and facilitate our business," Vardan added.