Alibaba tells Erdogan it plans to invest $2 billion in Turkey

ISTANBUL (Reuters) – Chinese e-commerce giant Alibaba (NYSE:) Group Holding Ltd has plans to invest $2 billion in Turkey in the coming period, its president Michael Evans said at a meeting with Turkish President Tayyip Erdogan, the company’s Turkish unit said on Monday.

Evans said Alibaba had already invested $1.4 billion in Turkey through its unit Trendyol, one of Turkey’s best known e-commerce platforms, Trendyol said in the statement.