Export opportunities for Turkey in China under the Belt and Road Initiative: application of a decision support model approach

Abstract

Turkey's foreign trade deficit with China has rapidly increased since the 2000s. To reduce the foreign trade deficit with China, Turkey needs to identify and diversify potential commodities to export to China with higher competitiveness. In this aspect, this study identifies potential export opportunities for Turkey in China among the Belt and Road Initiative China-Central Asia-West Asia economic corridor countries to increase Turkey's total export volume and diversification in China. The decision support model with some crucial modifications in accordance with regional practices is implemented to pick the export commodities with the highest export potential value. The results of the modified decision support model indicate that Turkey can have export potential, mostly in textiles, metals, machinery/electrical, and miscellaneous. The export promotion strategies for increasing export diversification and volume in China are recommended for Turkey’s future export strategy.

KEYWORDS:

• Export potential
• decision support model
• Belt and Road Initiative
• Turkish economy

JEL CLASSIFICATIONS:

• C69
• F14
• F17
• O24

Acknowledgement

This study is supported by the Ministry of National Education of the Republic of Turkey (Türkiye).

Disclosure statement

No potential conflict of interest was reported by the author.