Customs union

New free trade deals, update in Customs Union deal to jumpstart Turkish economy in 2017: Minister

An update in Turkey's Customs Union deal with the EU and the signing of new free trade deals with other countries will help Ankara overcome its economic slowdown in 2017, Economy Minister Nihat Zeybekci has said. 

Speaking at parliament during annual budget debates, Zeybekci cited both external and domestic causes of the recent decline in the value of the Turkish Lira. 

Turkey's revision of EU Customs Union to 'pave way for resolving chronic trade problems'

The revision of the Customs Union between the EU and Turkey will provide an opportunity for the parties to overcome chronic problems such as visa issues and transport quotas, as well as enabling Turkey to build a solid foundation for new Free Trade Agreements (FTAs) that are becoming more important in EU trade policy, the Economic Development Foundation (IKV) in a note on May 13. 

Turkey and EU set to sign MoU next week to upgrade Customs Union

Turkish Economy Minister Nihat Zeybekci and the EU commissioner for trade will sign a memorandum of understanding next week to draw framework of upgrading the Customs Union, EU Minister Volkan Bozk?r has stated, noting that one provision in the accord will automatically make Turkey part of any free trade agreement deal that the EU signs with a third party.

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.

Turkey to benefit from EU-Russia row: Minister

The dispute between Russia and the Western world tends to create economic opportunities for Turkey, as the country is seeking a bigger role in Asian trade and to-build stronger economic ties The crisis that Russia is facing with the West may present Turkey new opportunities, according to Economy Minister Nihat Zeybekci.

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