Transition to national currencies in mutual trade with China to benefit of Ankara and Beijing, Erdogan says
Turkey may use the national currencies in trade with China, President Recep Tayyip Erdogan said, Trend reports with a reference to Turkish media. Erdogan noted that Turkey and China are currently holding negotiations aimed at transition to the national currencies in mutual settlements.
"The transition to the national currencies in mutual trade with China is to the benefit of Ankara and Beijing," Erdogan said. According to the Institute of Statistics of Turkey (TUIK), in March 2018, the total value of Turkish exports amounted to $15.587 billion, an increase of 7.7 percent compared to March 2017.
In March this year, imports to Turkey reached $21.442 billion, an increase of 12.7 percent compared to March last year. In March 2018, Turkey's imports from China amounted to $2.1 billion.