Turkey to narrow trade gap

Turkey expects to attract more Chinese investors and increase its exports to China to narrow bilateral trade, according to Muharrem Yilmaz, chairman of the Turkish Industry & Business Association.

Yilmaz expressed his views during a joint interview in Beijing on Monday. He is leading a Turkish delegation to meet Chinese officials and enterprises.

"Two-way trade between Turkey and China has surpassed $28 billion yuan last year, however, exports from Turkey to China just totaled $3 billion to $4 billion," said Yilmaz.

Yilmaz said it is regretful that there are still big trade deficits.

Turkish government and the Chinese government are talking about an food safety agreement, which can promote bilateral food trade, such as dairy products.

However, when it comes to attracting investors, he showed great confidence.

He said that Chinese companies can reach out to 1.5 billion consumers in Europe,the Middle East and North Africa through Turkey by making investments in the country.

Turkey is in urgent need of investors in the infrastructure sector. We hope Chinese investors to bring us finance support as well as technology," he added.

The delegation is set to meet with China Investment Corporation this afternoon to talk over the possibility of sovereign-wealth funds to provided new capital for Turkey’s economic development.