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China's electric vehicle manufacturer BYD’s investment process in Türkiye is continuing smoothly with no issues, according to sources from the Turkish Ministry of Industry.
The update was provided in response to recent concerns about after the South China Morning Post reported that the Ministry of Commerce of China organized a meeting in July that included major EV producers such as BYD and Hozon New Energy Automobile in order to talk about companies to exercise caution when investing in countries like Türkiye and India.
Turkish government sources, who spoke on condition of anonymity, assured that discussions with other Chinese automakers for additional investments are also ongoing.
These negotiations are seen as part of a broader effort to attract foreign direct investment in Türkiye's growing electric vehicle market.
The clarification follows a report from Reuters, citing two individuals familiar with the matter, which revealed that China’s Ministry of Commerce had recently cautioned Chinese automakers about the potential risks of making auto-related investments abroad. Despite these warnings, BYD’s operations in Türkiye remain unaffected, according to Turkish officials.
Türkiye’s trade relationship with China has evolved into a complex and often troubling dynamic. While celebratory headlines highlight a 51% increase in exports to China, the underlying details reveal a more concerning picture.
As the notorious trade imbalance continues to grow year after year, China’s imports from Türkiye primarily comprise raw materials rather than end products, to the disadvantage of Türkiye.
Rank
Products
2020
2021
2022
Share (%) 2022
Change (%) 2021-2022
1
Telephone sets and other communication devices
2,485,006
2,681,079
2,254,300
5.5
-15.9
2
Automatic data processing machines
1,725,276
2,076,391
2,083,735
5.0
0.4
3
Stainless steel flat-rolled products
208,358
498,771
968,250
2.3
94.1
4
Diodes, transistors, and similar semiconductor devices
280,252
443,975
965,128
2.3
117.4
5
Polycarboxylic acids and their derivatives
55,758
347,064
859,374
2.1
147.6
6
Synthetic filament yarns
480,741
671,960
818,982
2.0
21.9
7
Other alloy steel flat-rolled products
129,127
506,731
729,527
1.8
44.0
8
Flat-rolled products of iron or non-alloy steel
573
170,894
728,296
1.8
326.2
9
Polyacetals, other polyethers, epoxide resins, polycarbonates, etc.
129,031
370,924
700,010
1.7
88.7
10
Electrical transformers and static converters
388,688
466,369
659,607
1.6
41.4
Türkiye’s major imports from China (Table source: Türkiye’s Trade Ministry supported by TurkStat data)
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