Chinese companies see Turkey as an address for European investments

At the European investment forum organized by technology company Huawei in China, Turkey's advantages for Chinese companies' investments in the continent were discussed

5 mins read
Chinese companies see Turkey as an address for European investments

The first China-Europe Leadership Forum, organized by Huawei Cloud, the company’s cloud computing arm, was held in the capital Beijing.

The section of the meeting titled “Turkey: New Destination for Investments”, the commercial and economic advantages that Turkey can provide to Chinese companies as a gateway to Europe were discussed.

At the meeting, Huawei Cloud announced its “Two 100” initiative, which aims to support 100 Chinese brands and 100 software partners to expand their global market share by investing in Europe.

In his speech at the meeting, Huawei Cloud Chairman Cang Xiucıng emphasized that they aim to provide quality information and communication infrastructure with innovative solutions to companies that want to expand their businesses on a global scale, and that cloud computing is the focus technology in this respect.

Pan Cie, Vice President of Huawei Cloud Europe, said that they have developed an advanced cloud computing infrastructure open to global access and offer more than 110 cloud computing services designed according to the needs and compliance procedures of the regions in 7 countries in Europe, Ireland and Turkey.

At the event attended by more than 100 Chinese companies, a promotional film titled “Turkey: Your Resilient Partner”, Atakan Özdemir, Chief Commercial Counselor of the Turkish Embassy in Beijing, and Ahmet Serhat Turan, China Representative of the Presidential Investment Office, made speeches on trade with Turkey and investment opportunities in Turkey.

Advantages of geographical location

In his speech, Chief Consultant Özdemir emphasized that Turkey has a special geographical location in the world and pointed out the advantages that this will provide Chinese companies in trade with the European Union (EU).

Özdemir gave the example of Germany, the largest economy of the EU, which is one of the main export destinations of both Turkey and China, and pointed out that when the foreign trade data of the three countries are compared, products exported from Turkey have a 50 to 75 percent price advantage compared to products exported from China due to geographical proximity and transportation advantages.

Özdemir emphasized that Turkey is the best choice for Chinese companies to expand their business activities to Europe, the Middle East and North Africa with its extensive land transportation network connected to Europe, ports and developed infrastructure, Customs Union and free trade agreements, production capacity, young population and rich human resources.

Özdemir underlined that Turkey has a favorable potential in terms of imports for China and pointed out that 27 percent of the products that China imports from abroad can be purchased from Turkey at more advantageous prices.

“Resilient partner” for investments

Mr. Turan, China Representative of the Presidential Investment Office, pointed out that Turkey has great potential as the country with the largest surface area, the second largest and the youngest population in Europe.

Stating that Turkey was one of the two countries in the world other than China that recorded an increase in its gross domestic product during the Covid-19 pandemic, Turan emphasized that this proved the resilience of the Turkish economy.

Underlining that 57 countries and a population of approximately 1 billion can be reached with a 4-hour flight from Turkey, Turan stated that Turkey would be the right choice as a management center for investments from New York to Beijing.

He noted that Turkey has signed free trade agreements with 28 countries from the UK to North Macedonia, from Chile to Singapore, and when the Customs Union with 27 countries of the EU is added to this, it provides the opportunity to reach a population of nearly 1 billion without customs tariffs.

Representatives of Chinese companies showed great interest in the event in Beijing, where Turkey was the focus country.

FİKRİKADİM

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