OREANDA-NEWS. October 18, 2012. Recently, Bank of China and Turkey Akbank have jointly opened Chinese bank counters in Istanbul to provide financial services and consulting business for Sino-Turkish enterprises, adapting to rapid development of bilateral trade and investment business, reported the press-centre of Bank of China.

Wu Tianpeng, a senior expert in Corporate Banking Unit of Bank of China, commented that Turkey is a country full of economic vitality and great potential and that Bank of China is willing to develop long-term cooperative relationship with Turkish banks. The Chinese bank counters opened by Bank of China in Turkey will provide better and more customized financial services for Chinese-funded enterprises and institutions according to their demand. The Sino-Turkish economy and trade have developed rapidly in recent years and Bank of China will render better services to bilateral trade and investment by virtue of Chinese bank counters opened in Akbank and representative offices set up in Turkey. In the future, Bank of China also considers opening branches in Turkey to manage various currency businesses including RMB.

Hakan Binbasgiler, the CEO of Akbank, said that Akbank welcomed the Chinese bank counters opened by Bank of China. In 2011, the total amount of Sino-Turkish bilateral trade was USD 24.16 billion, with over 450 Chinese-funded companies engaging in trade and investment business in Turkey. The establishment of Chinese bank counters is conducive to expanding Sino-Turkish trade and investment.

As the most internationalized commercial bank in China, Bank of China has set up institutions in Hong Kong, Macao, Taiwan and 35 countries and established entrusting business with more than 1,600 banks all over the world. In addition, by deepening business cooperation with overseas agencies Bank of China has opened Chinese bank counters in Oman, Ghana, Peru, UAE, Turkey and other countries in order to provide speedy financial services for “Go-Global” Chinese-funded enterprises, individuals and foreign enterprises.