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Economics & Trade

Turkey to buy $4b air defense system from China

Turkey announced plans to buy a US$4 billion air defense system from China Precision Machinery Import-Export Corporation on Thursday, rejecting rival bids from Western groups, Financial Times reported. A government committee chaired by Turkish Prime Minister Recep Tayyip Erdogan decided to proceed with buying the long-range anti-aircraft and ballistic missile system from the state-owned company despite concerns that the new technology might not work with other Nato systems. The US Treasury has imposed sanctions on the Chinese firm numerous times on charges that it has been involved in sharing missile technology with countries like North Korea.

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