Türkiye and China took a significant step in enhancing bilateral cooperation during the Second Meeting of the Türkiye-China Intergovernmental Cooperation Committee (ICC) in Beijing, the highest-level consultation mechanism between the two countries.
Co-chaired by Turkish Minister of Treasury and Finance Mehmet Şimşek and China's Vice Premier Zhang Guoqing, the ICC meeting—held for the first time in eight years—marked a major milestone in advancing bilateral trade and investment ties.
Accompanied by a delegation that included Investment Office President A. Burak Dağlıoğlu, Şimşek highlighted Türkiye's unique position as the nexus of the world, its robust infrastructure, and investor-friendly incentives. “Türkiye aims to strengthen cooperation with China in industrial, digital, and green transformation, as well as in transportation, culture, and health," said Şimşek. The Minister also reaffirmed Türkiye's support for China's Belt and Road Initiative and announced the establishment of a joint working group to align both countries' initiatives.
In his address, Minister Şimşek also referenced the shared vision of President Recep Tayyip Erdoğan and Chinese President Xi Jinping in enhancing collaboration across multiple sectors. He noted that Türkiye's expanding economy, with an average annual growth rate of 5.5 percent over the past two decades, continues to position the country as a prime hub for global investments.
Chinese Vice Premier Zhang Guoqing emphasized the importance of Türkiye and China as leading emerging markets in the 'Global South'. Highlighting common interests in areas such as renewable energy, 5G technology, and transportation, Zhang expressed optimism about the growing bilateral trade that reached USD 44 billion in 2023—double the amount in 2015.
The Turkish delegation, led by Mehmet Şimşek, also held a series of highly productive meetings in China with key players such as Bank of China, ICBC, and Huawei—companies that make significant contributions to the Turkish economy, particularly in the finance and ICT sectors.
During these meetings, the ongoing activities of these companies in Türkiye were reviewed, alongside opportunities to further increase Chinese investments in the country.
China remains Türkiye's largest trading partner in Asia, while FDI inflows from China to Türkiye have surged over the past two decades, totaling approximately USD 3.1 billion.