The 3rd Türkiye-China Business Conference, jointly organized in Istanbul by the Foreign Economic Relations Board of Türkiye (DEİK), the Turkish Industry and Business Association (TÜSİAD), and the China Council for the Promotion of International Trade (CCPIT), was held with the participation of Trade Minister Ömer Bolat. Within the scope of the conference, the 4th China International Supply Chain Expo was introduced, and cooperation agreements were signed between DEİK and CCPIT, TÜSİAD and CCPIT, and between the China International Expo Center (CIEC) and ATA Holding.
In his speech, Bolat recalled that diplomatic relations between Türkiye and China have reached their 55th anniversary, noting that the conference and the promotion of the expo would make a significant contribution to deepening economic and trade relations between the two countries. He stated that expectations and priorities regarding the development of economic relations were discussed during meetings with the Chinese delegation prior to the conference, emphasizing that a constructive and reciprocal consultation process was conducted.
Drawing attention to the challenging period faced by the global economy and world trade, Bolat said that political, military, and economic developments over the past year had created serious pressures on global trade. Citing International Monetary Fund (IMF) data, he noted that the global economy grew by 3.2% last year, with growth expected to slow to 3.1% this year. He added that while world trade expanded by 2.5% last year, growth of only 0.6% is projected for this year, underlining that trade remains a fundamental element for increasing global prosperity.
Bolat also referred to data from the United Nations Conference on Trade and Development (UNCTAD), recalling that global foreign direct investment stood at approximately USD 1.5 trillion in the 2024–2025 period. He emphasized that supply chains are being reshaped and that costs and risks are increasing, pointing to the importance of a predictable and well-functioning global trade system in this environment.
Stating that Türkiye’s economy reached a historic milestone last year with a national income of USD 1.5 trillion for the first time, Bolat said that per capita income exceeded USD 18,000. He added that total exports of goods and services reached USD 397 billion, while total trade volume between Türkiye and China amounted to USD 53 billion last year. Highlighting the trade imbalance in favor of China, Bolat noted that a structural transformation has been proposed to address this imbalance and that discussions are ongoing.
Bolat stressed that the objective is not to restrict trade, but to increase Türkiye’s visibility in the Chinese market. He said that they aim to establish a more balanced trade structure by increasing product diversity and focusing on higher value-added goods. He added that Türkiye’s exports to China rose by 32% in the first month of this year to USD 335 million, describing this increase as encouraging for the steps taken in this direction.
Emphasizing the existence of mutual investment potential between Türkiye and China, Bolat stated that approximately 1,465 Turkish companies operate in China, while 1,419 Chinese companies are active in Türkiye. He noted that there are significant Chinese investments in sectors such as finance, energy, services, transportation, and telecommunications, adding that China has a global direct investment stock of USD 3.1 trillion and that investments in Türkiye could be further increased.
Turning to tourism, Bolat said that 425,000 Chinese citizens visited Türkiye last year, which accounts for only 1% of the total number of Chinese tourists traveling abroad. He noted that an increase in the number of Chinese tourists would contribute to economic relations between the two countries, recalling that visa-free travel for Chinese citizens to Türkiye will take effect as of 2 January 2026, and expressing expectations for similar facilitation for the Turkish business community.
At the conference, DEİK President Nail Olpak, TÜSİAD President Ozan Diren, Ambassador of the People’s Republic of China to Ankara Jiang Xuebin, CCPIT President Ren Hongbin, and Vice President of the Export-Import Bank of China Wang Kang also delivered speeches, emphasizing the importance of developing trade, investment, and industrial cooperation between Türkiye and China on a long-term, balanced, and mutually beneficial basis.
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