Sun Sep 15 10:20:00 UTC 2024: ## China’s Belt and Road Initiative Threatens Turkish Exports, Warns DEİK President

**ISTANBUL** – The Belt and Road Initiative (BRI) could negatively impact Turkish exports, warns Nail Olpak, president of the Foreign Economic Relations Board (DEİK). Olpak expressed concern that reduced travel times for goods transported from China to Europe could erode Turkey’s logistics advantage, leading to significant losses in the Turkish export market.

“Currently, a ship from Shanghai takes 40-45 days to reach Amsterdam, but with the BRI, that journey will be reduced to eight days,” Olpak said. “This will erase our logistical edge, as a truck from Gaziantep can reach Amsterdam in just three to four days.” He added that the influx of Chinese goods could also result in empty trucks returning from Europe, further harming Turkish exporters.

While acknowledging the growing trade partnership between China and Turkey, Olpak pointed out the trade imbalance heavily favors China. He urged the Turkish government to consider measures to support exporters, such as increased foreign exchange support and easing restrictions on loans to small and medium-sized enterprises.

Olpak also highlighted the need for diversification beyond goods exports, pointing to the success of Turkish contracting services, which generated $31.5 billion in projects abroad in 2022. However, he expressed concern over the difficulty Turkish contractors face in accessing financing and advocated for a system to address this challenge.

In other news, Germany announced it will expand border controls to all nine neighboring countries, sparking protests from other EU members. Turkey is expected to sign a long-term LNG supply agreement this week during Energy Minister Alparslan Bayraktar’s visit to the US. On the sporting front, Turkey secured a 3-1 victory over Iceland in a UEFA Nations League match thanks to a hat-trick from Benfica winger Kerem Aktürkoğlu.

Read More