Turkish, Chinese export credit banks seal cooperation deal

The export credit banks of Türkiye and China on Tuesday signed a deal at a forum held in Sydney, Australia.

The memorandum of understanding signed between Turk Eximbank and the China Eximbank will pave the way for technical cooperation, according to a statement.

With the deal, parallel/joint financing and guarantees will be provided for projects and transactions to be jointly undertaken by Turkish and Chinese companies in other countries.

The deal aims "to protect the competitiveness of Turkish exporters by accessing new financing sources," said a statement from Turk Eximbank.

Since Turk Eximbank was founded in 1987, it conducts international credit, guarantee, and credit insurance programs aimed at developing economic and political relations between Türkiye and other countries.

The Export-Import Bank of China (China Eximbank) provides loans, guarantee, settlement, deposits, financial consultancy, and other bank related services for import and export enterprises.