Company News

5/17/2017

A Framework Cooperation Agreement was Signed Between Türkiye İş Bankası and the Chinese Export and Credit Insurance Organization "Sinosure"

Yılmaz Ertürk, the Deputy General Director of İş Bankası: "With this agreement, we will continue to increase our support to our customers in commerce, investment, infrastructure, energy, logistics, and many other areas."

A Framework Cooperation Agreement was signed between Türkiye İş Bankası and the Chinese export and credit insurance organization "Sinosure".

The framework agreement which contains a memorandum of cooperation covers credit support by Sinosure through Türkiye İş Bankası in the projects undertaken by Chinese companies in Turkey and the export of the goods of Chinese origin to Turkey.

Yılmaz Ertürk, the Deputy General Director of İş Bankası emphasized that diplomatic relationships established between Turkey and China in 1971 started to grow in political and economic fields by 80s. Having further developed by mutual high-profile visits, these relationships grew to the level of "strategic cooperation" by 2010. Ertürk said: "We believe that China, which becomes the top global investor, will enhance this status further, and that Sinosure will grow in importance in terms of attracting long-term investments in Turkey, opening up channels of technology transfer, and increasing the trade. With this agreement, we will continue to increase our support to our customers in commerce, investment, infrastructure, energy, logistics, and many other areas"

The mutual trade volume between Turkey and China has exceeded $1 billion for the first time, and the trade volume reached $28 billion as of the end of 2016 with the developments from 2000. This has made China the second global and first Asia-Pacific commercial partner of Turkey. Especially the "Silk Road Economic Belt" and "21st-Century Marine Silk Road" strategies are expected to introduce new opportunities to Sino-Turkish relations.