The Turkish Finance Minister and his French counterpart on Friday agreed on joint action against US sanctions targeting Turkey, according to ministerial sources.
Turkish Treasury and Finance Minister Berat Albayrak and Minister of Finance Economy and Finance Minister Bruno Le Maire were discussing economic cooperation, the Turkish Treasury and Finance Ministry said in a statement.
Albayrak and Le Maire agreed to improve bilateral cooperation, the statement said, adding that delegations from both countries would meet in Paris on 27 August.
The Turkish Minister also thanked his counterpart and French President Emmanuel Macron for their support.
Turkey and the US are currently experiencing rocky relations after Washington imposed sanctions on two Turkish Cabinet Ministers for not releasing American pastor Andrew Brunson.
President Donald Trump last week ramped up his attack on Turkey by doubling US tariffs on Turkish aluminium and steel imports. On Wednesday, in retaliation, Turkey increased tariffs on several US-origin products, including alcohol, tobacco products and cars.
Meanwhile, Turkish daily ‘Hurriyet’ reports that China has given its backing to Turkey, saying that it can overcome its financial problems.
China offered moral support to Turkey on Friday, saying it believed the country could overcome its “temporary” economic difficulties, in Beijing’s first comment on the issue.
The Turkish lira has lost a third of its value against the dollar this year as worsening relations between NATO allies Turkey and the United States added to losses.
In a brief statement, China’s Foreign Ministry said that it had noted the “new direction” of the Turkish economy and its foreign relations.
“Turkey is an important emerging market country, and it remaining stable and developing benefits regional peace and stability,” the ministry added.
“China believes that Turkey has the ability to overcome the temporary economic difficulties, and hopes the relevant sides can ease their differences via dialogue,” it said, in reference to Turkey and the United States.
The ministry also referred to media reports that state-run Industrial and Commercial Bank of China Ltd had signed a $3.8 billion financing agreement with Turkey.