Modernization of Customs Union Will Be a Leverage to Turkish Exports

Commenting on the European Commission's statement to launch talks regarding the modernization of the Customs Union Agreement, Chairman of Turkish Exporters' Assembly Mehmet Buyukeksi stated that, “With the modernization of the agreement, Turkey will become a negotiating party on EU's free trade agreements, this will be a great leverage for Turkey's trade with 3rd countries”.

Buyukeksi also said that “Modernization and extension of the agreement will enable Turkish companies to enter public procurement, agriculture and services sectors. This will further increase our competitiveness”.

Currently Turkey is conducting about half of its international trade with the EU, Buyukeksi told that “The agreement must be reshaped and modernized in order to further increase this number. The talks in this regard first started when our Minister of Economy Nihat Zeybekci had a meeting with European Trade Commission. Now with the European Commission's demand from the Council for a mandate to launch talks with Turkey to modernize agreement, the process has gained momentum.”

Customs Union Agreement was signed in 1995 as the last step for Turkey before becoming a member state. After the agreement, trade between the European Union (EU) and Turkey has grown exponentially. In addition to that, quality and competitiveness of Turkish products also increased.