Turkey has a bright outlook and strong development prospects for 2020, according to Turkish Trade Minister Ruhsar Pekcan, who expects the country will continue to broaden cooperation with China.
Pekcan made the remarks in an interview on the sidelines of the World Economic Forum (WEF) in Switzerland’s Davos, with economic growth and cooperation being one of the hot topics up for discussion at the event.
Despite the world going through several trades and other geopolitical uncertainties over the past year, Pekcan believes the global economic situation will vastly improve in the year ahead
“The result of 2019 was pretty good and 2020 will be much better than expected worldwide,” she said.
Although the recession in global trade affected all countries and caused a significant loss in the momentum of global growth, the export performance of Turkey saw some success, achieving a 2.6 percent increase rate during the first nine months of 2019.
Pekcan said Turkey should look to cooperate with other dynamic economies, including China, to make the most of growth opportunities.
“The Chinese economy and the Turkish economy are very dynamic economies. Dynamic countries, dynamic populations, and they look like each other, indeed. And if we can make opportunities for the cooperation more, we can create more I believe,” said the trade minister.
Over the past five years, all countries along the routes of the China-proposed Belt & Road Initiative have connected their development strategies to seek maximum cooperation results. This is exemplified by such projects as Turkey’s “Middle Corridor”. Pekcan said China should also look upon Turkey as a place of major investment potential.
“China can consider Turkey as an investment hub – for Europe, for Africa, for Middle East, for central Asia as well, and it is a right destination, and even we can offer them a China investment zone, either in any industrial park or in the free zone, which we have additional incentives for the technology investment in the free zone. It is a good opportunity, we have so many blanks opportunities to fill together,” she said.
As one of the first countries to support the Belt & Road Initiative, Turkey expects to foster more cooperation with China. The country sits in a strategically and geographically pivotal position in helping fulfil the aims of the initiative, which seeks to build a trade and infrastructure network connecting Asia with Europe.
“As for the Belt & Road, we believe in the success of this strategy, and we are behind of the medium corridor. We can cooperate and we can create so many common projects together, and we support also Belt & Road projects,” said Pekcan.
The four-day World Economic Forum started on Tuesday, gathering nearly 3,000 world leaders, chief executives, and civil society representatives from 117 countries in Davos to discuss ways of dealing with some of the major challenges facing the world today.
The main topics include economic growth, the wealth gap, political polarisation and the climate crisis.