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China signs $1 bln contracts with Turkey
2010/01/09

ISTANBUL, Jan. 8 (Xinhua) -- China and Turkey signed 38 contracts worth of 1.05 billion U.S. dollars at the end of the forum on economic cooperation and investment here on Friday.

The deals cover Chinese imports of minerals, marble and other products from Turkey as well as contracting power plant projects in Turkey.

The signing ceremony was witnessed by visiting Chinese Commerce Minister Chen Deming and his Turkish host State Minister for Foreign Trade Zafer Caglayan in Istanbul.

More than 100 Chinese entrepreneurs came along with Chen to seek purchase and investment opportunities during the minister's four-day visit to Turkey.

Addressing the forum with more than 400 people from the two countries, the two ministers pledged their efforts to forge close economic and trade relations by expanding trade and increasing mutual investment.

China and Turkey saw their trade surge from more than 1 billion U.S. dollars in 2000 to 12.6 billion U.S. dollars in 2008. Turkey's exports stood at only 1.98 billion U.S. dollars in 2008.

Chinese enterprises' direct investment in Turkey reached 313 million U.S. dollars as of the end of September 2009, with the amount in the first three quarters accounting for more than 90 percent of the total, figures from China's Commerce Ministry show. Meanwhile, actual investment by Turkish companies in China exceeded 100 million U.S. dollars as of the end of October.

 
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