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China, Turkiye hold forum to boost economic ties

Updated: Aug 06,2022 07:31    Xinhua

ISTANBUL — A forum aimed at boosting financial cooperation between Turkiye and China has brought together leading figures in finance, technology, and governance in Istanbul.

The Belt and Road Financial Cooperation Forum held on Aug 4 focused on topics such as digital economy, green economy, technological development and innovation, cultural exchanges, and sustainable development.

Liu Yuhua, minister counsellor of economy and commerce at the Chinese embassy in Turkiye, said that in addition to cooperation in traditional fields, China and Turkiye have been expanding their cooperation in emerging fields such as finance, medicine, new energy and digital economy, bringing benefits to the two peoples.

"We have been in mutual exchange and communication for over a thousand years. We work together for the common welfare and development of the economies. We are proud that the friendship between Turkiye and China has increased day by day in the last 51 years," he said.

Gao Xiangyang, chairman of ICBC Turkiye and Istanbul Businessmen and Industrialists Association, said the Belt and Road Initiative (BRI) meets the actual needs of Turkiye's development and has effectively promoted the country's infrastructure and economic and trade development.

Mahmut Kayacik, executive director of Turkiye Wealth Fund, presented details about the newly established Istanbul Finance Center, inviting Chinese firms' participation and support.

"Due to its geopolitical location and the opportunities it provides, the center has tremendous potential to add value to the BRI initiative," said Kayacik, adding "Chinese firms taking their place in our finance center would boost relations between Turkiye and China financially and economically."

Another topic of the forum was promoting the use of local currencies in bilateral trade.

"We aim to increase the volume of the local currencies used in the trade between China and Turkiye," said Hakan Uzun, deputy general manager of Turk Eximbank.

"With the support of the swap agreements signed between Turkish and Chinese central banks, we are preparing to finance the Chinese yuan to the Turkish traders who import raw materials from China," he added.

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