China-Turkey joint venture inks long-term strategic cooperation deal with local suppliers
CRRC-MNG Rail System Vehicles Industry and Trade Ltd. (CRRC-MNG), a China-Turkey joint venture, signed a long-term strategic cooperation deal with dozens of Turkish suppliers on Tuesday.
The agreement, which was signed at a supply chain cooperation conference held in Turkey's capital Ankara, involves CRRC-MNG and 46 Turkish suppliers.
The deal, dubbed Supply Chain Cooperation Statement, aims at maintaining sustainable cooperation with Turkish businesses on the basis of the win-win principles.
Li Yangyang, general manager of the CRRC-MNG, said in his speech that his company has been pursuing localization which could benefit both the company itself and the Turkish supplies.
The CRRC-MNG has realized localization in product supplies, assembly and project management, which not only increases the R&D capabilities of local suppliers but also creates jobs for local workers, he added.
Nurettin Ozdebir, president of Ankara Industry Chamber, said the contribution of CRRC-MNG was important for the transport systems in Turkish cities including Ankara, adding the localization strategy of CRRC-MNG helps boost the economy of Turkey.
Several other Turkish officials including Yalcin Eyigun, general manager of infrastructure investment under the Ministry of Transport and Infrastructure, and representatives from various Chinese and Turkish companies, also participated in the conference themed Cooperation and Win-win.
Jointly established in 2013 by Chinese rail manufacturer China Railway Rolling Stock Corporation (CRRC) Zhuzhou Electric Locomotive Co., Ltd. and Turkey's MNG Holding, CRRC-MNG has provided metro vehicles and services for important cities in Turkey, including Istanbul and Ankara.