Thursday, July 31, 2014

China Turkey's largest source of foreign capital in Q2

Today's Zaman - July 30, 2014

Recent figures from the Ministry of Customs and Trade show that China was the largest source of foreign capital found in Turkey during the second quarter of 2014.

China purchased or entered a partnership in close to 40 marble quarries in Turkey during that period. News reports from earlier this month indicated that China has purchased more than 100 marble quarries in Turkey over the last four years, establishing their presence in the sector to such an extent that it has created discomfort among local entrepreneurs, according to a statement from West Mediterranean Exporters' Union (BAİB) President Mustafa Satıcı.

In recent years, trade between Turkey and China has increased and Chinese entrepreneurs have increasingly set their sights -- and directed their capital -- towards Turkey. Figures from the Turkish Statistics Institute (Turkstat) indicate that the trade volume between the countries increased by 45 percent between the years of 2010-2013.