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In-Depth Analysis – The EU-Turkey Customs Union and trade relations: what options for the future? – 07-07-2021

This in-depth analysis summarizes the main effects of the Customs Union (CU) on EU-Turkey trade and the economic situation in Turkey. Whereas the CU offers Turkey several economic benefits, it also implies some downsides, in particular asymmetric tariffs in relation to third countries. Against the background of the dynamic development of EU-Turkey relations, the authors assess the impact of four different options for developing EU-Turkey economic and trade relations:
(i) Continuation of the current Customs Union framework as it stands,
(ii) Modernization and upgrading of the Customs Union,
(iii) A transformation of the bilateral trade relations into a deep and comprehensive free trade agreement (DCFTA),
(iv) Suspension of the Customs Union (in which case WTO rules would apply).
The in-depth-analysis describes the options, the challenges the EU-Turkey Customs Union faces and seeks solutions for these issues.

Source : © European Union, 2021 – EP

Briefing – Peace and security in 2021: The EU’s evolving relations with Turkey – 28-07-2021

Turkey first sought cooperation with the European Economic Community (EEC) in 1959 (European Union (EU) as of 1992), and has since been key partner of the EU on matters relating to migration, counter-terrorism and trade. The EU and Turkey have been linked by an Association Agreement since 1964, and a Customs Union Agreement since 1995. However, in recent years, EU-Turkey relations have been suffered from Turkey’s lukewarm adoption of EU standards and democratic principles and Ankara’s actions in the EU neighbourhood..

Source : © European Union, 2021 – EP


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