Brussels – Turkish Trade Minister Omer Bolat announced on Monday the decision to continue high-level trade dialogue meetings between Turkey and the European Union.
This came in a joint press statement with European Commission Vice President Valdis Dombrovskis in the Belgian capital, Brussels, following the first meeting of the high-level trade dialogue between Turkey and the European Union.
Bulat explained that the trade dialogue meetings “will contribute greatly to strengthening trade relations between Turkey and the European Union.”
The Turkish Minister pointed out the importance of the Customs Union Agreement concluded between Türkiye and the European Union.
In this context, he said: “The Customs Union has contributed to increasing the quality of Turkey’s industrial infrastructure and the competitiveness of Turkish products in global markets.”
He added: “Turkey has become a production base very close to Europe and is well integrated into global supply chains.”
“Modernizing the customs union in line with the reality of international trade will improve mutual economic security and increase competitiveness,” Bulat noted.
The Customs Union Agreement entered into force on 1 January 1996, pursuant to the decision taken at the EU-Turkey Association Council meeting on 6 March 1995, following negotiations between the two sides.
Türkiye is demanding an update to the agreement, arguing that it is plagued by structural problems with the development of the current trade structure.
Polat stated that the total annual trade volume between Turkey and the European Union is 205 billion euros, and that Turkey’s proximity and integration with the EU supply chains ensures the EU’s competitiveness on a global scale.
Anatolia
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2024-07-09 13:49:49
