Turkcell signs deal to purchase China’s Huawei products on local currencies

ISTANBUL

Turkey’s leading mobile operator Turkcell has said it clinched a deal to purchase Huawei products in local currencies in a bid to support the country’s recent move to boost trade in local currencies rather than foreign exchanges, Reuters reported on March 13. 

President Recep Tayyip Erdoğan called for Turkish citizens and companies to convert their dollars or euros into Turkish Liras late in 2016. Many state-run and private companies announced that they would start to make their transactions in liras. 

Turkcell had earlier announced that it would start to make its investments, product and services purchases and rent contracts in liras. 

Turkcell CFO Bülent Aksu said the company accelerated its works to make its product and services purchases in local currencies or liras from their foreign suppliers. 

“We are happy to clinch our first commercial transaction in local currencies with our business partner Huawei,” Aksu added.