Bloomberg News

China, Turkey Trade ‘Far Lower Than What Is Should Be’, Xi Says

February 22, 2012

Feb. 22 (Bloomberg) -- Trade volume between China and Turkey is “far lower than what it should be,” China’s Vice President Xi Jinping said.

The two countries must strengthen strategic cooperation, particularly in transportation, finance and energy, Xi said at a business forum in Istanbul today. China is Turkey’s third biggest trade partner, he said.

Turkey and China started work on mutual bank licenses, Turkey’s Deputy Prime Minister Ali Babacan said at the meeting. Chinese and Turkish central banks signed a three-year currency swap agreement worth 10 billion yuan ($1.6 billion), or 3 billion liras in Ankara yesterday.

To contact the reporter on this story: Ercan Ersoy in Istanbul at eersoy@bloomberg.net

To contact the editor responsible for this story: Aydan Eksin at aeksin@bloomberg.net


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