China now Turkey’s third largest trade partner

Plane in China

In a significant economic milestone, the trade cooperation between China and Turkey has surged to $23.6 billion, positioning China as Turkey's third-largest trade partner, following Russia and Germany.

Chinese investments in Turkey increasing

The noteworthy increase in Chinese investments in Turkey, reaching an impressive 120%, underscores the strengthening economic ties between the two nations. As of the latest available data, the number of Chinese investments in Turkey has seen a substantial uptick, with 8,000 Chinese workers contributing to various sectors within the country.

Last year alone, Chinese investments in Turkey amounted to $2.8 billion, reflecting a sustained commitment to mutual economic growth. The cumulative value of Chinese investments in Turkey between 2005 and 2018 stood at a substantial $15 billion, highlighting the enduring nature of the economic collaboration between the two nations. This prolonged period of investment underscores the stability and attractiveness of Turkey as a destination for Chinese capital.

China and Turkey’s strategic partnership

Looking ahead, China has set ambitious goals for its economic engagement with Turkey, aiming to increase its investment by an annual volume of $6 billion in 2021. This commitment signals a deepening of economic collaboration and further solidifies the strategic partnership between China and Turkey.

The significant presence of Chinese workers in Turkey not only contributes to the local workforce but also fosters cultural exchange and collaboration between the two nations. The diversity of sectors benefiting from Chinese investments, ranging from infrastructure to technology, underlines the breadth and depth of the economic engagement.

Turkish Tourism Year in China

The year 2018 marked a significant milestone in the diplomatic and cultural relations between Turkey and China as it was celebrated as the "Turkish Tourism Year in China." This commemoration was accompanied by a series of diverse cultural events and initiatives aimed at fostering mutual understanding and deepening the cultural ties between the two nations.

One of the notable outcomes of this concerted effort was the remarkable surge in the number of Chinese tourists visiting Turkey. In 2018, there was a substantial 60% increase compared to the previous year, with a total of 394 thousand Chinese tourists exploring the rich cultural tapestry and scenic landscapes of Turkey. This positive trend continued into 2019, with the number of Chinese visitors surpassing 565 thousand, reflecting an enduring interest in Turkey as a premier tourist destination.

The success of the "Turkish Tourism Year in China" not only showcased the allure of Turkey's cultural and historical treasures to the Chinese audience but also underscored the effectiveness of cultural diplomacy in strengthening bilateral relations.

Potential for further collaboration

The exchange of cultural experiences and the promotion of tourism laid the foundation for a more profound people-to-people connection between Turkey and China. This surge in Chinese tourism not only contributes to Turkey's vibrant tourism sector but also paves the way for increased economic cooperation between the two nations.

As Chinese travellers discover the unique charms of Turkey, the potential for further collaboration in areas beyond tourism, such as trade, investment, and cultural exchange, becomes increasingly promising.

The positive trajectory in Chinese tourism to Turkey reflects a shared commitment to fostering cross-cultural understanding and building bridges between nations. The enduring impact of the "Turkish Tourism Year in China" serves as a testament to the resilience and potential of the cultural bonds that continue to flourish between Turkey and China.

As both nations look towards the future, the cultural exchange initiated in 2018 sets the stage for deeper and more meaningful collaborations in various spheres of mutual interest. As China continues to expand its global economic footprint, the growing trade cooperation and increased investments in Turkey mark a pivotal chapter in the evolving economic landscape.

The strategic alliance between China and Turkey holds the promise of continued growth, innovation, and shared prosperity, setting the stage for a mutually beneficial partnership well into the future.

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