Turkey Wealth Fund Inks MoU with China's Sinosure

Turkey Wealth Fund (TWF) and China Export and Credit Insurance Corporation (Sinosure) have inked a memorandum of understanding (MoU) to promote bilateral investment cooperation.

According to a statement of TWF on Thursday, Sinosure will consider providing insurance support up to USD 5 billion with respect to the financing activities. 

Sinosure will also recommend to TWF Chinese enterprises that are relevant to investors, contractors, and financial institutions for projects in the energy, petrochemical, and mining sectors. 

TWF CEO Zafer Sönmez said, “Announcing this agreement during the times of uncertainty around the world due to the COVID-19 pandemic is an indication of the strength of our cooperation." Sönmez noted that China has been a strong trade and business partner of Turkey and that Turkey is pleased to enter into a new phase of their collaboration with the country. 

Wang Tingke, CEO of Sinosure, said, “We hope that we will continue to develop communication and coordination in projects through this memorandum of understanding, an important milestone to deepen the cooperation between TWF and Sinosure." 

“With China's 'Belt and Road' Initiative and Turkey's 'Middle Corridor' Initiative moving forward, the economic, trade, and investment cooperation between China and Turkey has become more and more frequent," Tingke added.

Photo: Invest in Turkey

Disclaimer
The information on this page may have been provided by a contributor to ChinaGoAbroad, and ChinaGoAbroad makes no guarantees about the accuracy of any content. All content shall be used for informational purposes only. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting such content (including texts, pictures, photos and diagrams) to ChinaGoAbroad for publication. ChinaGoAbroad disclaims all liability arising from the publication of any content/information (such as texts, pictures, photos and diagrams that infringe on any copyright) received from contributors. Links may direct to third party sites out of the control of ChinaGoAbroad, and such links shall not be considered an endorsement by ChinaGoAbroad of any information contained on such third party sites. Please refer to our Disclaimer for more details.
Top