Chinese auto, textile, banking firms seek investments in Turkey

Chinese businesses from the banking, textile, auto supply and furniture industries met Turkish counterparts in anticipation of possible investments in Turkey, during a meeting organized by the Turkish Confederation of Businessmen and Industrialists (TUSKON) yesterday in Ankara.TUSKON and the China Federation of Industry and Commerce (ACFIC) signed a cooperation agreement, expecting to bolster trade ties between the two fast-growing economies. ACFIC represents 2.7 million businesses and 1.16 million companies from 3,345 local trade unions in China. Addressing the audience at yesterday's signing ceremony; TUSKON Chairman Rızanur Meral said more businessmen from Turkey and China have realized the importance of cooperation in third countries in the past years and that they expected to see the number of joint projects increase in the years to follow.Meral said "We also brought our businessmen to China to discuss possible deals with Chinese counterparts. China offers vast investment opportunities for Turkish firms,". Meral called on Chinese entrepreneurs to invest in Turkey before they branch out into Middle East, Africa and EU markets. Also speaking at the meeting, ACFIC Vice Chairman Song Beishan said Turkey and China have cultivated strong trade relations over the past decade and that his union considered it a must to intensify bilateral meetings. The central banks of Turkey and China recently discussed a currency liquidity swap arrangement to promote trade by settling transactions in lira and yuan.