New investment flows from China to Turkey: Free trade zone may be created soon

Yichang Municipality of People’s Government of China, which has an investment firm in Turkey, signed a “sister municipality and investment protocol” with Maltepe Municipality. Speaking at the signing ceremony, Maltepe Mayor Ali Kılıç said, “We [have] signed an important protocol that will contribute to the investment move that our Presidential candidate, Mr. Kemal Kılıçdaroğlu, promised to bring to Turkey from abroad. May it be beneficial for both Maltepe and the second century of our Republic.”

Maltepe Mayor Ali Kılıç signed the protocol with Yichang Municipality’s Mayor Ma Zejiang.

Creation of a free trade zone

Speaking at the protocol ceremony, Kılıç said: “Turkey has been following China’s economic breakthroughs in recent years closely. I care about your cooperation with our Turkey project that we are trying to implement in this regard. We visited the Ambassador of the People’s Republic of China in Ankara. We explained our project. We want to establish an International Fair and Congress Center in Maltepe. In addition, we want to create a free trade zone. Thus, the products exhibited at the fair will be able to be sold to the whole world, thanks to the free trade zone. It will be an investment of approximately 300 million Euros. It will be a green fairground. It will produce solar energy and transform rainwater. It will be the largest fairground in Turkey. Such commercial relations will bring both our countries and our societies closer. It will increase the country’s trade volume. I hope our cooperation project will pave the way for such agreements.”

More from Opinion

Germany recognises the China challenge — but still hesitates Gaza Peace Board: Why India must reject Trump’s offer

Strengthening cooperation

Mayor Ma Zejiang said, “We have companies that work in Turkey. At the same time, we will support your project with our companies in China. We also have a free trade zone in our city. We can strengthen our cooperation efforts through our companies investing in both countries.”

“We invite you to our city in this regard. We are here to strengthen our relations with Maltepe and to contribute to the relations between Turkey and China,” he said.

Evolving economic-ties

Economic relations between Türkiye and China, which have been stagnant for many years, are now developing in many areas - tourism and joint transportation projects - are also some of them.

Quick Reads

View All

Xi’s China: When too much control becomes a systemic risk

Germany recognises the China challenge — but still hesitates

The writer is a correspondent and an author who works in Turkish media. He graduated from Istanbul University, Faculty of Communication.  He is interested in foreign policy issues, especially in the Middle East, Eastern Mediterranean, Atlantic and Eurasia. Views expressed are personal. 

Read all the  Latest News,  Trending News,  Cricket News,  Bollywood News,
India News and  Entertainment News here. Follow us on  Facebook,  Twitter and  Instagram.