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Türkiye aims for balanced trade, stronger cooperation with China – Türkiye Today

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Türkiye’s Minister of Treasury and Finance Mehmet Simsek expressed optimism for strengthening Türkiye-China cooperation, underscoring the importance of balanced trade, mutual investments and regional stability.

Speaking at the second Türkiye-China Intergovernmental Cooperation Committee (HIK) meeting, held in Beijing, Simsek emphasized that an enhanced partnership between the two nations would not only benefit both countries but also promote global peace and economic stability.

Turkish Treasury and Finance Minister Mehmet Simsek and Chinese Vice Premier Zhang Guoqing hold the 2nd meeting of the Turkiye-China Intergovernmental Cooperation Committee in Beijing, China on Nov. 7, 2024. (AA Photo)

Historic partnership anchored in Silk Road legacy

Simsek highlighted the historical and cultural ties shared Türkiye and China, which span millennia as two anchors of the ancient Silk Road. He conveyed gratitude for China’s support during Türkiye’s February 2023, noting that China was one of the first to extend aid.

Goals for balanced trade and strategic sector collaboration

The HIK meeting focused on establishing a sustainable trade framework, with Türkiye aiming for a “more balanced” trade with China. Simsek outlined the significance of increasing mutual investments and strengthening ties in key sectors, including energy, infrastructure, civil aviation and agriculture.

Additionally, Simsek expressed Türkiye’s interest in welcoming more Chinese tourists, emphasizing that increased flight connections could further deepen the historic bonds between Turkish and Chinese communities.

Broader economic collaboration and attracting foreign investment

Simsek outlined Türkiye‘s ambition to position itself as a natural hub for international investments. Türkiye’s robust infrastructure, strategic location, and skilled workforce, he noted, make it an attractive destination for foreign investors.

Türkiye aims for balanced trade, stronger cooperation with China
Turkish Energy and Natural Resources Minister Alparslan Bayraktar and Chinese Minister of Natural Resources Wang Guanghua meet in Tianjin, China on Oct. 16, 2024. (AA Photo)

Shared vision for regional peace and security

Vice Premier of China, Zhang Guoqing, echoed the sentiment, emphasizing that Türkiye and China, as key players in the Global South, hold shared perspectives on global justice and equality.

Guoqing acknowledged the growth in political trust between Türkiye and China, citing the nations’ alignment on issues like the Israel-Palestine conflict and the Ukraine crisis.

The economic partnership between Türkiye and China has flourished, with trade volume doubling since 2015, reaching $44 billion in 2023.

Türkiye aims for balanced trade, stronger cooperation with China
Middle Corridor. (Stiftung Wissenschaft und Politik)

Meeting of the joint working group on Belt and Road Initiative

The two nations also held discussions to align Türkiye’s Middle Corridor Initiative with China’s Belt and Road Initiative, establishing a joint working group to advance connectivity through infrastructure and green energy projects.

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