Turkish business group warns of lagging behind in transatlantic trade talks

All projections indicate that Turkey’s economy would eventually be harmed due to the eventual integration of the world’s two largest economies through the Transatlantic Trade and Investment Partnership (TTIP), the head of Turkey’s leading business club has warned.

“The U.S. and the EU have been negotiating the TTIP. This agreement is integrating the world’s two largest economies. However, all calculations foresee that Turkey’s economy will be harmed due to this integration. Turkey must definitely become a part of the ongoing TTIP negotiations as soon as possible,” Turkish Industrialists and Business Association (TÜSİAD) President Haluk Dinçer said on Sept. 4, speaking in Ankara after courtesy visits to government officials, opposition leaders and diplomatic missions.

“As a non-EU member country, Turkey’s inclusion in a Customs Union Agreement with the European Union, which came into force in late 1995, has brought many advantages,” Dinçer said, while adding that today an “asymmetrical” situation against Turkey had emerged.

“Until today this has been endured but from now on it seems very difficult,” he added.

Ankara is pressing to be included in the TTIP being negotiated between Washington and Brussels, which would cut tariffs and harmonize regulations in the world’s biggest economic blocs.

Under Turkey’s current customs agreement with the European Union, the TTIP would also give the United States automatic access to Turkish markets, but Turkey’s exports would not see the same reciprocal benefit.