Turkish Wealth Fund, Chinese insurance agency ink deal

Turkish Wealth Fund, Chinese insurance agency ink deal

ANKARA - Anadolu Agency
Turkish Wealth Fund, Chinese insurance agency ink deal

Alamy Photo

The Turkish Wealth Fund (TWF) and China Export and Credit Insurance Corporation (Sinosure) have signed a Memorandum of Understanding (MoU) to promote bilateral economic, trade and investment cooperation.

Sinosure will consider providing support up to $5 billion with respect to the financing activities, according to a statement from TWF on March 26.

The insurance agency will recommend relevant Chinese enterprises to the Turkish fund as the investors, contractors and financial institutions for projects especially in energy, petrochemicals and mining sectors addressing the current account deficit of Turkey.

Wang Tingke, the CEO of Sinosure, called the deal an important milestone for deepening bilateral cooperation.

“With China 'Belt and Road' Initiative and Turkey 'Middle Corridor' Initiative go forward and go deep, the economic, trade and investment cooperation between China and Turkey become more and more frequent," Wang noted.

Zafer Sönmez, the CEO of TWF, stressed the strengthening of cooperation during "the times of uncertainties around the globe" amid COVID-19 pandemic.

 

Exports,

Quark.Models.Entities.Ancestor?.Title?.ToUpperInvariant() Over 47 million foreign tourists visit Türkiye in 10 months

Over 47 million foreign tourists visit Türkiye in 10 months
LATEST NEWS

  1. Over 47 million foreign tourists visit Türkiye in 10 months

    Over 47 million foreign tourists visit Türkiye in 10 months

  2. Probe launched into journalists Altaylı, Saymaz

    Probe launched into journalists Altaylı, Saymaz

  3. Greece pushes green transition on its fragile islands

    Greece pushes green transition on its fragile islands

  4. AI firms seek accords with publishing giants to maintain growth

    AI firms seek accords with publishing giants to maintain growth

  5. Competition authority launches probe into Mastercard, Visa

    Competition authority launches probe into Mastercard, Visa
Recommended
AI firms seek accords with publishing giants to maintain growth

AI firms seek accords with publishing giants to maintain growth
Competition authority launches probe into Mastercard, Visa

Competition authority launches probe into Mastercard, Visa
BP announces $7 billion gas project investment in Indonesia

BP announces $7 billion gas project investment in Indonesia
Trudeau to send checks to millions of Canadians

Trudeau to send checks to millions of Canadians

SEC Chair Gensler to exit, clearing way for Trump pick

SEC Chair Gensler to exit, clearing way for Trump pick
Volkswagen workers head towards strikes from December

Volkswagen workers head towards strikes from December
Turkish defense company to empower Pakistani army

Turkish defense company to empower Pakistani army
WORLD Greece pushes green transition on its fragile islands

Greece pushes green transition on its fragile islands

Greece this week signed a clean energy deal with the EU in a bid to fast-track the green transition on its fragile islands threatened by overtourism and climate change.
ECONOMY Over 47 million foreign tourists visit Türkiye in 10 months

Over 47 million foreign tourists visit Türkiye in 10 months

Foreign tourist arrivals in Türkiye increased by 7.03 percent year-on-year in January-October to 47.3 million, according to data from the Culture and Tourism Ministry on Nov. 22.

SPORTS Türkiye heads to Nations League playoffs after Montenegro loss

Türkiye heads to Nations League playoffs after Montenegro loss

Türkiye spurned the opportunity to finish atop its group in the UEFA Nations League and qualify for League A directly with a 3-1 loss at Montenegro on Nov. 19 night.