Turkey-China Ties: Relations to be enhanced between two countries
Updated 14:37, 13-Aug-2018
As Turkey transitions to a presidential system - Turkey's President Recep Tayyip Erdogan has announced his 100 day action plan - and in central focus is China. Erdogan announced Turkey would be enhancing relations with China using different strategic points of collaboration. CGTN's Michal Bardavid has the details.
One of the main challenges Turkey's President Tayyip Erdogan is facing right now is the country's economic state. The Turkish Lira has lost more than a third of its' value since the beginning of the year. Erdogan declared Turkey would be turning to China for collaboration in many areas, most importantly; in finance.
MICHAL BARDAVID ISTANBUL "Turkish President Tayyip Erdogan announced Turkey is issuing Chinese Yuan denominated bonds for the first time. Erdogan also said Turkey is turning towards China for external borrowing."
Economists emphasized Turkey's decision to diversify its sources of financing will make it stronger.
EMRE ALKIN ECONOMIST "Stability for the Turkish Lira will come from cooperation with valuable countries like China. It's impossible for the Central Bank to do something alone, resources are needed. If this resource will come from China, then it will come from China, but the important thing is to make use of this resource. It is clear we need the wisdom, the ideas and the suggestions of countries like China."
Erdogan also said China, Mexico, Russia and India will be new markets for Turkey's exports.
Turkish President Tayyip Erdogan recently met with his Chinese counterpart Xi Jinping in Africa during the BRICS summit. Smiling and shaking hands - the leaders stressed bilateral cooperation would be increased in the fields of trade, investment, infrastructure, construction, counter-terrorism and security.
Turkey has also been taking part in China's Belt and Road Initiative.
DR. ALTAY ATLI TURKISH EXPERT ON ASIA PACIFIC "When China cooperates with Turkey on the Belt and Road Initiative, it is beneficial for both sides. Turkey will benefit in terms of fulfilling its infrastructure and energy needs, and China will have a strong partner in this geography as it aims to expand in this region which will help the projects' stability and sustainability."
There are also several Chinese investments in Turkey; China's state-owned shipping company COSCO Pacific owns 65% of Turkey's third largest port.
DR. ALTAY ATLI TURKISH EXPERT ON ASIA PACIFIC "I believe Turkey and China could also expand their parnerships in Turkey's other ports, in the Mediterranean sea, in the Aegean Sea, and at the Black Sea. And a critical move is not just to combine these ports with railway projects and extend the lines, but to create a logistical network."
Turkish President Erdogan also announced Turkey was working on an action plan to draw more Chinese tourists to Turkey. Turkey is set to open its first cultural and language center in China. 2018 had been declared Turkish Tourism Year in China. Michal Bardavid, CGTN, Istanbul.