The world’s largest international project, “One Belt One Road” aims to fully enter into service in 2049, the 100th anniversary of the People’s Republic of China. A total of USD 4 trillion worth of investment is expected to reach the USD2.5 trillion trade volume by 2025.
More than 20 heads of state including President Erdogan and more than 1,200 representatives from various countries of the world attended the ” One Belt One Road International Cooperation Summit” held in May 14-15 in Beijing.
Sino-Turkish trade cooperation continue with major projects such as the Edirne-Kars high-speed train project, the third nuclear power plant and “One Belt One Road” projects. In 2016, the import-export volume between China and Turkey increased by 1.9 percent to 27.76 billion US D ollars. China became Turkey’s 19th largest exporter and remains the largest import market country.
” One Belt One Road ” project will extend from the Pacific Ocean to the Baltic Sea, and will rely eastern, western and southern Asia, and pass through Istanbul. Istanbul Kum Port will be an important transfer center in the project and for this reason, China Merchants, Cosco, China Investment Consortium acquired Kumport Harbor. It is expected that Bank of China will open soon its branches in Istanbul.
The Chinese Consul General to Istanbul, Qian Bo, declared that China wants to strengthen its strategic cooperation with Turkey. ” This project has the principle for a common vision, common projects and common benefit; it is open, inclusive and balanced… The countries will tailor their economic development strategies as well as their policies. “
