Foreign and Military Affairs

Wen assures Turkish businessmen of growing trade

(Xinhua)
Updated: 2010-10-09 21:51

ISTANBUL - Chinese Premier Wen Jiabao assured Turkish businessmen Saturday that China was committed to developing closer trade and investment ties with Turkey, promising to increase bilateral trade to $50 billion in five years.

"We've set an ambitious goal of $50 billion trade volume between China and Turkey in five years," Wen told a group of Turkish businessmen in Istanbul, adding the goal is reachable but needed arduous efforts.

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The trade volume between China and Turkey in 2009 stood at $10 billion, with a surplus in favor of China.

To achieve balanced trade with Turkey, Wen promised the Turkish businessmen China would send more trade commissions to Turkey to import more Turkish products.

"China never pursues a trade surplus but a balanced and sustainable trade," Wen said.

Wen said that the two countries can sign a currency swap agreement to facilitate financing cooperation and establish banking branches in each other's countries.

"China's related financing departments will buy Turkey's bonds to help Turkey stabilize its financial market," Wen said.

He stressed that both sides should address each other's concerns and carry out close exchanges, consultations and stand against trade protectionism.

"I think China-Turkey trade cooperation is just unfolding and will enjoy great prospects," Wen added.

Wen arrived in the Turkish capital city of Ankara Thursday night after visiting Greece, Belgium and Italy.

During his two-day visit, Wen held talks with his Turkish counterpart ?Recep Tayyip Erdogan and attended the signing ceremony of eight agreements between the two countries in sectors such as trade, transport, infrastructure, communications and cultural exchanges.