ANKARA: Turkiye is aiming to attract Chinese investors by using its strategic location and a customs deal with the European Union (EU) to offer tariff-free access to European markets. Recently, Turkiye secured a major deal with the Chinese carmaker BYD.
On Monday, BYD signed a billion-dollar agreement with Ankara to open a factory in western Turkiye, which will create 5,000 jobs and help the company avoid new EU tariffs.
Turkiye, located at the intersection of Europe, the Middle East, and Central Asia, is also in discussions with other Chinese companies, according to Turkiye’s Industry and Technology Minister, Mehmet Fatih Kacir.
“We want to turn Turkiye into a hub for producing the next generation of vehicles,” Kacir told the private broadcaster Haberturk.
The minister highlighted Turkiye’s advantages, such as being part of the EU’s customs union and having trade agreements with 28 countries.
