ANKARA: Chinese economic cooperation with Turkey is yet to reach catalytic proportions and has been complicated by issues involving ethnic Uyghurs in China.
But COSCO, China’s state-owned shipping and logistics giant, is turning things around. It joined a consortium to buy a controlling stake in a Turkish container terminal, giving China’s new “Silk Road” route into Europe a big step forward.
COSCO Pacific, a subsidiary of shipping company China Ocean Shipping Co. (COSCO) entered a joint venture with two state-owned enterprises: the shipping firm China Merchants Holdings (International) and CIC Capital, a subsidiary of the state investment firm China Investment.
