03/06/2011 17:28
Turkey plans to open bank in China
Turkey plans to open a bank in China as a result of the developing trade and monetary relations between the two countries, according to a statement by Turkish Deputy Prime Minister and Economy Minister Ali Babacan.
The Bank of China, the Asian county’s third-largest lender by market value, has received a license to open a branch in Istanbul, Babacan said while speaking at the Turkey China business forum held Thursday in Istanbul, Hurriyet Daily News reported.
The Turkish Central Bank and the Chinese Central Bank are negotiating to support trade in national currencies, the economy minister added. “We are pleased to see that the head of the branch has been assigned by the bank to operate in Istanbul,” he said.
“We are also trying to open a Turkish bank in China as soon as possible,” Babacan said, noting that the Turkish government hopes to develop a long-term and multidimensional strategic partnership with China.
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