Turkey eyes closer trade cooperation with China to deal with economic difficulties

Strengthening trade relations with China will provide a fresh momentum to Turkey’s industries and help the country get out of the recession swamp, said Dogu Perincek, chairman of Turkey’s Patriotic Party (Vatan Party).

The first China International Import Expo (CIIE), which opened on Monday in Shanghai, offers “a great opportunity” for Turkey’s exports and will narrow its trade deficit with China amid the current economic difficulties in the country, Perincek said in an exclusive interview with Xinhua.

“It will make a major contribution to improving the unbalanced trade relations between the two countries, and we will seek more space to expand our exports and boost the industries,” Perincek said.

The CIIE is expected to be a blessing for Turkey’s companies which are struggling with the slowing-down economy, with a 25-percent inflation and high unemployment rate.

Turkey’s economy got into hot water in the wake of a failed coup attempt in 2016 and terror attacks in Turkish big cities. A currency crisis in August led to financial troubles in Turkey after its economy showed signs of recovery in late 2017.

Turkey, which has geographical advantages because of its location that connects Europe and Asia, has the potential of boosting its economy despite the current difficulties, Perincek noted. “Turkey would not find out solutions to its economic troubles under the current Western economic and trade system unless it turns itself to China and other Asian countries,” he argued.

Perincek stressed that it is crucial for Turkey to develop its productivity and China is “the best cooperation partner for Turkey”.

“It is the right time for Turkey and China to enhance their trade and investments as the US has imposed tariffs on imports from China, triggering a trade war,” the party head said.

Perincek, who has visited China over 10 times, hailed China’s reform and opening-up policy, which has enabled both State-owned and private firms to compete in international trade arena and advance themselves rapidly in the innovation sector.

China’s achievement has contributed significantly to the world and set a good example for developing countries as well as Turkey, he emphasized.

Perincek expected more investments from China to provide fresh incentives to Turkish companies in the fields of harbors, agriculture, power, medicine and artificial intelligence, as well as upgrading the aging railway system.

As a witness of China’s economic success and social development since 1978, he described China as “hope for mankind” and “an indicator of the global economy”.

“We see the growing influence of China as a positive sign in the chaotic and disorderly international political and economic systems,” said Perincek, adding “we can increase our cooperation and achieve even more together”.

The authors are writers with the Xinhua News Agency. opinion@ globaltimes.com.cn