BY BESTENIGAR KARA
China, the second largest economy in the world with a USD 17.5tr GDP, desires to contact further and work with the Turkish business world for a common future to develop economic and commercial relations between Turkey and China.
China and Turkey are the two countries that actively support and promote economic globalization, according to Wei Xiaodong, Consul General of the People’s Republic of China in Istanbul. “China will pull out all the stops to deepen Turkey’s Middle Corridor Initiative with the Belt and Road Initiative and turn a new page in the win-win relations between the two countries,” Xiaodong said at the Chinese New Year and Spring Festival event.
The Chinese New Year and Spring Festival event, organized by the Consulate General of the People’s Republic of China in Istanbul, the People’s Government of Sichuan Province, and the Sichuan Overseas Friendship Association, was held on February 20 in Istanbul.
Wei Xiaodong, Consul General of the People’s Republic of China in Istanbul, who made the event’s opening speech, stated that China successfully controlled the pandemic while its economy steadily recovered. “The Chinese economy caught a CNY 12.6tr growth in 2023 when its GDP surged by 5.2%,” said Xiaodong. “Considering the future, the Chinese economy’s long-term recovery process won’t change. China will densely maintain overseas expansion,” he added.
Wei Xiaodong also noted that China has a vibrant and flexible economy with high potential. The country will support advanced technologies and a smart and green economy. “While our industry rapidly rises, our consumption market will continuously operate. The middle-income population is estimated to reach 800 million in the next decade in China,” Xiaodong said.
Touching on China’s foreign policy, Xiaodong stated that the Central Conference on Work Relating to Foreign Affairs, held in Beijing at the end of 2023, aimed to promote and create a society that shares a common fate. “We have clearly revealed that China has a pioneering goal in its foreign policy in the new period. With the idea to share a common fate, we will support a multipolar world in order and equality,” Xiaodong said, stressing that China will continue actively promoting universal, inclusive, and beneficial economic globalization.
The Consul General also reiterated that the People’s Republic of China is celebrating the 75th anniversary of its foundation this year. “Along with all countries, China will join forces to resist challengers and achieve a common prosperity.”
CHINESE-TURKISH COOPERATION ACCELERATES
Turkey and China are two major developing countries, according to Wei Xiaodong, Consul General of the People’s Republic of China in Istanbul. To him, the two countries achieved strong communication and rapid cooperation in all fields last year. According to official Chinese statistics, the bilateral trade volume between Turkey and China exceeded USD 42 billion last year. “The cooperation in renewable energy, digital technology, artificial intelligence, and e-commerce industries accelerated between the country countries last year,” Xiaodong noted.
The event, attended by the representatives of the Sichuan Overseas Friendship Association, Turkish Foreign Ministry, Istanbul Metropolitan Municipality, foreign diplomatic missions, and the Chinese and Turkish business world, ended with Chinese art and dance performances and traditional food presentations of chefs from Sichuan.
The BRI’s sphere of influence reaches 155 countries
The Belt and Road Initiative (BRI), a global infrastructure development strategy adopted by the Chinese government in 2013 to boost East-West trade, has created a sphere of influence that includes two-thirds of the worldwide population and more than half of the global GDP, with the participation of 155 countries and projects in over 70 countries over the past decade. Turkey’s Middle Corridor Initiative, which aims to develop trade links between Central Asia and China, matches the goals of the BRI as it is the shortest route between Western China and Europe. On the other hand, Turkey has a strategic location, which provides access to a 1.3 billion population and around USD 28tr market with a four-hour flight. It exports goods to a population of 987 million with no tariffs, thanks to the EU-Turkey CU and other FTAs. With a middle-income population of 400 million people, China is considered a trade partner of Turkey with potential.