"The trade figures between us make it look like unrequited love. This doesn't make us happy," Economy Minister Zafer Caglayan said at the start of a business forum attended by the Chinese vice president on the second day of his visit to Turkey.
Xi announced that Prime Minister Tayyip Erdogan, who he met the previous evening, would visit Beijing in April, in a sign of the growing trust between two countries who have had competing interests in Central Asia.
Turkey's drive to develop nuclear energy and reduced dependence on imported oil and gas, will be likely to feature during Erdogan's trip as he broached the topic with Xi, and Ankara is already seeking expertise from Japan and South Korea.
Sabah newspaper reported that China was interested in the construction of a $20 billion nuclear plant in Turkey.
Caglayan said Chinese firms were showing interest in Erdogan's multi-billion dollar infrastructure projects for a third bridge across the Bosphorus, and a canal linking the Black Sea and the Sea of Marmara.
The two countries were the world's fastest growing major economies last year, and both have become adept at using foreign policy to promote commercial interests in faraway markets.
Xi said while investment between them was rising, it was still far below its potential, noting that since 2001 Chinese companies have signed deals worth more than $10 billion in Turkey.
"China and Turkey should work on the liberalisation of the world economy and contribute to its growth," Xi told the forum.
Already the 16th largest economy globally, Turkey aims to become a top-ten economy by 2023, the 100th anniversary of the Turkish republic, while China is already the world's number two.
Caglayan said trade between the two countries was destined to surge, but noted that most of the traffic goes westwards, and 60 percent of Turkey's sales to China came from mining. "I think we will have trade of $100 billion in 2020," he said.
Deputy Prime Minister Ali Babacan said he would like to see a Chinese bank open in Turkey.
Caglayan, who oversees trade policy, announced a series of accords to be signed during the visit.
"The agreements we will sign after the meeting will be (worth) close to $1.38 billion, of which $500 million will concern Turkish exports to China, $570 million financial support of Chinese firms to Turkey and $308.5 million in a package of contractor and energy investments," Caglayan said.
The central banks of Turkey and China signed a three-year currency swap agreement on Tuesday worth $1.6 billion which will be effective for three years.
Xi will inherit the perennial complaints from other nations swamped by Chinese goods, when, as seems almost certain, he succeeds Hu Jintao as president in just over a year.
And with China's exports growing at more than three times the rate of Turkey's last year, resulting in a $19 billion trade gap, Turkish businessmen clamoured for a better share.
"We must take measures to balance this out," Turkish Exporters Assembly (TIM) Chairman Mehmet Buyukeksi told a meeting of the Turkish-Chinese Business Forum.
"Our trade deficit with China is continuing to widen." (Reuters)
