Turkey, China set a goal of $100 bln in mutual trade

By Tousif Khan - Wed Feb 22, 4:29 pm

Turkey and China Wednesday announced a goal to boost bilateral trade from the current $24 billion to $100 billion over the next eight years as senior government officials from two of the world’s fastest growing economies met in ?stanbul to discuss measures to facilitate trade.

One of the largest buyers of Chinese products, Turkey has long complained about an imbalance in bilateral trade, seeking ways to attract as much foreign direct investment (FDI) from the Asian country as possible.

Turkish ministers did not hesitate to use Wednesday’s Turkey-China Business Forum, which brought 200 Chinese businessmen together with their Turkish counterparts, as an opportunity to reiterate calls for increased efforts to minimize a widening trade deficit with China.

Pressure on China to this end is on the rise as Turkey is not the only country complaining about Chinese products swamping their markets. Chinese firms were accompanying China’s leader-in-waiting Xi Jinping, who arrived on Tuesday in Ankara to meet President Abdullah Gül as part of a two-day visit.

By Todays Zaman