Within the scope of the "China Action Plan," the Turkish government will seek to achieve the highest level of bilateral trade with China, the country's largest trading partner in the Asia-Pacific region.
Certain details of the the Turkish government's "China Action Plan" have been unveiled. Accordingly, appropriate conditional financing will be provided from China, and Turkish and Chinese firms will participate jointly in tenders in third countries.
Within the scope the 100-day Action Plan announced by President Recep Tayyip Erdoğan on Friday, the Chinese market will become a priority for Turkey in the new era.
Ankara has started to prepare country-based action plans to diversify export items in order to reduce the large trade deficit recorded against Turkey.
It is reported that these plans, expected to be announced at the end of November, have been prepared especially for China, Russia, India and Mexico. It is stated that Turkey will concentrate on four main items to achieve the highest level of bilateral trade with China, Turkey's largest trading partner in the Asia Pacific region and the second largest in the world after Germany.
By providing appropriate conditional financing from China, it is planned that Chinese companies will be involved in large-scale transportation and energy projects in Turkey. The financing to be provided will include machinery and its products to be exported from China, as well as all or most of the projects planned to be undertaken.
Moreover, Chinese companies will increase their investments in Turkey and take part in costly infrastructure projects in the country. In order to increase the investments, many Turkish companies will be encouraged to take part in important general and sectoral fairs in China. Also, Turkish trade committees are scheduled to hold numerous official visits in Beijing, Shanghai, Guangzhou and Xiamen, China's major trade centers, in the coming months.
Finally, projects will be carried out for Turkish and Chinese firms to participate jointly in tenders in third countries in financing and technology procurement projects, while Turkish and Chinese companies will undertake joint projects in Africa, the Middle East, Central Asia, the Caucasus and the Balkans, especially within the framework of the principle of "cooperation rather than competition."
