Istanbul Hosts Key Bilateral Business Forum
Istanbul, Türkiye – The third Türkiye-China Business Conference took place on Saturday, February 7, 2026, in Istanbul, drawing over 300 representatives from government bodies, business associations, and enterprises from both countries. The high-level forum aimed to strengthen bilateral trade relations, encourage new investments, and enhance mutual trade, with a particular focus on addressing the existing trade imbalance.
The conference was jointly organized by the Foreign Economic Relations Board (DEİK), the Turkish Industry and Business Association (TÜSİAD), and the China Council for the Promotion of International Trade (CCPIT). This gathering coincided with the 55th anniversary of diplomatic relations between Ankara and Beijing, underscoring the long-standing ties between the two nations.
Addressing the Trade Imbalance
A central theme of the conference was the significant trade deficit favoring China. Turkish Trade Minister Omer Bolat highlighted the need for a structural transformation to balance trade and increase Türkiye's visibility in the Chinese market. Minister Bolat stated, 'Our aim is not to narrow trade, but on the contrary, to ensure Türkiye is more visible in the Chinese market, to increase its share, to provide product diversity, and to establish the structural foundations of balanced trade with high value-added products based on the win-win principle.'
Bilateral trade between Türkiye and China reached approximately $52.84 billion in 2024. However, this figure reveals a substantial imbalance: Türkiye's imports from China amounted to $49.57 billion, while its exports to China stood at only $3.27 billion, resulting in a trade deficit of $46.3 billion for Türkiye.
Investment and Cooperation Opportunities
Discussions also covered investment flows, which similarly show an asymmetry. Currently, 1,419 Chinese companies operate in Türkiye with total investments of $3.2 billion, primarily in sectors such as finance, energy, services, transportation, and telecommunications. In contrast, approximately 1,465 Turkish companies have invested around $175 million in China.
Key areas identified for expanded cooperation included:
- Technology
- Investment
- Tourism
- Supply Chains
Chinese Ambassador to Ankara Jiang Xuebin and Chairperson of the CCPIT Ren Hongbin emphasized China's commitment to deepening mutually beneficial cooperation. The conference saw the renewal of Memorandums of Understanding between the CCPIT, DEİK, and TÜSİAD, further solidifying future collaborative efforts. The Belt and Road Initiative was also recognized as an important avenue for Türkiye-China cooperation in transportation and connectivity.
Future Outlook
The conference served as a crucial platform for high-level officials and business leaders, including Vice President of the Export-Import Bank of China Wang Kang, to exchange views on advancing economic and commercial cooperation. Both sides expressed optimism that the dialogue would translate into concrete partnerships, new investments, and agreements aimed at fostering a more balanced and robust economic relationship between Türkiye and China.
6 Comments
Leonardo
Finally, concrete steps to address the trade imbalance. This conference is a vital move for Türkiye's economy.
Michelangelo
Great to see Türkiye and China strengthening economic ties. Dialogue is always a good thing!
Raphael
The conference's focus on high-value products is a step in the right direction for Türkiye. However, without concrete policies to protect nascent Turkish industries from overwhelming Chinese competition, this goal may remain elusive.
Donatello
A $46 billion trade deficit? This isn't a partnership; it's exploitation. Türkiye is getting a raw deal.
Raphael
Cooperation in areas like technology and supply chains sounds beneficial for both nations. Still, Türkiye must ensure that this cooperation doesn't solely serve China's strategic interests but also genuinely contributes to Türkiye's technological independence and economic diversification.
Leonardo
Diplomatic ties and dialogue are essential for international relations, and it's good to see MOUs renewed. Yet, the history of these conferences shows that translating optimism into tangible, equitable economic shifts for Türkiye requires sustained, forceful negotiation beyond just goodwill.