Turk Ekonomi Bankasi (TEB) has started transactions in Chinese Yuan.
TEB signed an agreement with Hong Kong-based Bank of China Limited after Turkey and China agreed to use both Turkish lira and Chinese Yuan in trade.
Under the agreement, customers of TEB will have the opportunity to make or receive payments in Yuan and get consultancy and brokering services from the bank in their commercial transactions with Chinese counterparts.
Trade volume between the two countries reached 12.12 billion USD in the first eight months of 2010. Turkey and China aimed at increasing their trade volume up to 50 billion USD till 2015 and 100 billion USD till 2020.
AA
Turkish bank starts transactions in Chinese Yuan
TEB signed an agreement with Hong Kong-based Bank of China Limited after Turkey and China agreed to use both Turkish lira and Chinese Yuan in trade.
Add Comment
