The Turkey Wealth Fund (TWF) and China Export and Credit Insurance Corporation (Sinosure) have signed a deal to promote bilateral cooperation, the TWF announced Thursday.
The agreement was aimed at promoting economic, trade and investment cooperation between the two sides, the TWF said in a press release.
Sinosure will recommend relevant Chinese enterprises to the TWF for projects, mostly in the fields of energy, petrochemicals, and mining, it said.
The TWF has recently announced its investment plans in these sectors as well as its contribution to the logistics infrastructure investment in Turkey.
As part of the deal, Sinosure will also consider providing insurance support up to 5 billion U.S. dollars, it added.
Meanwhile, Wang Tingke, the CEO of Sinosure, was quoted as saying that the economic, trade and investment cooperation between the two countries become "more and more frequent."
"The agreement is an important milestone for deepening cooperation between the TWF and Sinosure," Wang said.
Sinosure is a state-funded insurance company established with the mission of promoting China's foreign trade and international economic cooperation.
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