China-Turkey business deals on rise as ‘strategic partnership’ evolves out of geopolitical strife with West
- Turkish ambassador says his country can help China’s trade with the world, including the EU, with which Turkey has a free-trade agreement while China does not
- Source at state-owned Chinese firm says they have invested in Turkey’s chip sector for more than three years, and now they are looking to tap its energy sector
Turkish businesses say they are keen on further tapping into China’s market, with an eye on ramping up their position as a midpoint for Chinese investment amid rising geopolitical tensions with the West.
“From digital platforms to telecommunications, renewable energy to electric vehicles, cloud technology to the defence industry, we are building a strong and wide range of cooperation with China,” Ismail Hak Musa, Turkish ambassador to China, said at the second Turkey-China Business Conference on Wednesday. The first was in July in Istanbul.
“The political stability that China and Turkey both enjoy is an important foundation for prosperity and development,” he added, noting that the trade delegation was expecting to find new trade opportunities with China.
China had been trying to woo and charm foreign investment to bring their money back after three years of stringent Covid policies, but leaders have been struggling to restore business confidence, especially among Western companies, as geopolitical wrangling with the United States has grown more hostile.