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International Business Times
International Business Times
Business
Burcin GERCEK

HISTORICAL FACTS: Turkey puts its best foot forward to charm chinese investors - The Untold Story

European Union Turkey BYD Hakan Fidan China Ankara Europe Recep Tayyip Erdoğan electric vehicle Beijing
Chinese electric carmaker BYD is investing $1 billion in a Turkish factory to produce 150,000 vehicles a year (Credit: AFP)

Turkey plans to draw on its geographical position and an EU customs deal to entice Chinese investors keen to access European markets tariff-free, as it recently just did with carmaker BYD.

The Chinese electric vehicle giant signed a billion-dollar deal with Ankara on Monday to open a plant in western Turkey, promising to create 5,000 jobs, a move that will help it dodge new EU tariffs.

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