Madrid, July 11 (IANS): Atletico Madrid have completed the signing of Belgium footballer Yannick Ferreira Carrasco from French club Monaco.

The 21-year-old winger has signed a five-year contract, while reports suggest the move has cost the La Liga side in the region of 20 million euros, goal.com reported on Friday.

Carrasco, who has so far represented Belgium in three matches, is viewed as a replacement for Arda Turan after the Turkey international joined league rivals FC Barcelona this week.

"We are very satisfied with the agreement reached with Monaco, because Yannick is a player with huge prospects and with an incredible future," Atletico sporting director Jose Luis Perez Caminero said.

"He is a player with great speed, who's excellent at driving the ball and has a great shot. He will contribute perfectly to our aim of increasing the quality and competitiveness in the group.

"I am convinced that he will contribute a lot to the team."

Carrasco is Atletico’s third signing of the summer after the arrival of Luciano Vietto and Jackson Martinez.