President Xi Jinping and his Turkish counterpart, Recep Tayyip Erdogan, attend an economic and trade forum in Beijing on Thursday.(China Daily/Xu Jingxing)
China's president promises expanded business cooperation
President Xi Jinping outlined key areas of cooperation between China and Turkey, including high-speed railways, new energy and finance, on Thursday.
Making a rare appearance at a business forum, Xi highlighted China's expertise in high-speed railways, wind-powered electricity and the photovoltaic industry.
He also said China is willing to link its advanced industrial capacity with that of Turkey.
A host of Chinese railway enterprises want to take part in construction projects in Turkey, Xi told Turkish President Recep Tayyip Erdogan and about 300 businesspeople from both countries at the forum in Beijing.
China, with the world's longest high-speed rail network, has worked with Turkey on the major components for the first high-speed rail link connecting Ankara and Istanbul.
The multi-billion-dollar line began operating last year, and Turkey plans more projects, including a high-speed line linking its eastern and western borders.
Yin Gang, a researcher at the Chinese Academy of Social Sciences, said China has experience in the high-speed rail and new-energy industries. This would help support Turkey's growth and Erdogan's plan to develop his country's economy into one of the world's 10 largest.
China is a leading trade partner with Turkey, with the two-way trade volume reaching $27.8 billion last year. In the second quarter of 2014, China also became Turkey's largest source of foreign capital inflow, according to the Turkish government.
Xi said China will continue to guide and encourage its enterprises to invest in Turkey and to expand cooperation areas, including the emerging sectors of space technology, finance and investment.
Commercial cooperation between the two nations was enhanced in May when Industrial and Commercial Bank of China said it had completed the purchase of a majority share in Turkey's Tekstilbank.
Erdogan, accompanied by a large Turkish business delegation during his two-day visit to China, said his government welcomes increasing investment by Chinese enterprises.
Turkey supports China's Belt and Road Initiative and the $40 billion Silk Road Fund, and it wishes to take part in related cooperation, Erdogan said.
Turkey has been approved as a prospective founding member of the China-led Asian Infrastructure Investment Bank, which has been established to provide financial assistance for infrastructure projects in Asia.
Gong Shaopeng, a professor of international relations at China Foreign Affairs University, said Turkey's geographical location is important in connecting Asia and Europe through the Silk Road Economic Belt and the 21st Century Maritime Silk Road.
