Turkey, China to make a deal to restore ancient Silk Road

Turkey, China to make a deal to restore ancient Silk Road
Posted on: 15 May 2017

World leaders have met together in Beijing to participate in a gathering called “the Belt and Road Forum as part of “the One Belt, One Road” concept. The forum held on May 14-15th and hosted by Chinese President Xi Jinping enjoyed presence of leaders from 28 countries. Concerned project is known to target “revival of an ancient trade route” in Europe. It is reported that Turkey and China are expected to strengthen their partnership through economic and commercial agreements, on this occasion.

Prior to his departure to China, President Erdoğan held a press conference at Ankara Esenboğa Airport and provided detailed information about his visits China on 16th May and to USA to follow. Erdogan held bilateral talks with Chinese President Xi and some other leaders participating in the summit and had the chance to exchange ideas on bilateral, regional and global issues with concerned heads of state. Erdoğan had also stated earlier that this visit would bare much importance as a first step to establish the infrastructure and superstructure in Chinese-Turkish relations with preliminary preparations already made.

OBOR project also called the Modern Silk Road was started by the initiative of Chinese President XI in 2013 and aims to develop a comprehensive infrastructure, transportation, investment, energy and trade network that connects Asia, Europe, the Middle East and Africa.

The total length of the modern Silk Road was is calculated to be 109,000 and based on official data provided by reputable establishments the project is to include 65 countries accounting for one third of global GDP. It has been stated that up to $304 billion has been spent for the project which will cover a population of 4.5 billion globally.

The OBOR project aims to link Asia, Europe, the Middle East and Africa in terms of logistics and transportation through ports, railways, airports, electric networks as well as fiber optic networks.