Turkish experts stress China's leading role in global service trade

ISTANBUL, Sept. 12 (Xinhua) -- China's robust and integrative economy has positioned it as a key player in global service trade, with its active participation and policies significantly influencing international practices, Turkish experts have said.

In an interview with Xinhua, Selcuk Colakoglu, director of the Ankara-based Turkish Center for Asia-Pacific Studies, highlighted China's pivotal role in promoting import and export services, which he said is essential for boosting the global economy.

"China's active role and participation have a dynamic effect on global trade in services, and other countries often follow China's best practices in this area," Colakoglu said.

The expert noted that sectors like transportation, communication, and construction services are experiencing a boom due to post-pandemic economic growth and advancements in technology and innovation.

"China leads the way by promoting and supporting service trade and encouraging imports and exports," Colakoglu said.

Regarding Türkiye-China relations, Colakoglu emphasized the upward trend in economic cooperation with significant opportunities in service trade.

He expressed the belief that the 2024 China International Fair for Trade in Services (CIFTIS) kicking off Thursday offers a valuable platform for Türkiye and other countries to enhance collaboration.

The event consistently introduces new niche areas for cooperation, broadening opportunities for global partnerships, Colakoglu said, adding, "Each year, it renews the potential for global cooperation and further advancements in the field."

Irfan Karsli, head of the Istanbul-based Ligarba Travel Agency, said China's burgeoning high technology and service trade sectors are becoming crucial revenue sources for global firms and investors.

"This dynamic environment not only benefits service trade within China but also supports industries and trade in Belt and Road countries, providing global firms with direct investment opportunities," he said.

Karsli sees CIFTIS as a prime opportunity for Turkish companies to stay competitive by learning about the latest innovations and emerging services.

This year's CIFTIS, scheduled in Beijing from Sept. 12 to 16, continues to focus on the theme "Global Services, Shared Prosperity." More than 80 countries and international organizations will hold exhibitions at the fair.