Trade - public consultation on EU-Turkey economic relations
The European Commission launched a public consultation on the future of EU-Turkey trade and economic relations
EU-Turkey trade relations
EU-Turkey preferential bilateral trade relations are governed by the Association Agreement, and subsequent decisions that include the establishment of the Customs Union (limited to goods only), and trade concessions in the agricultural sector.
In 2015, trade in goods amounted to 140 billion of euros, making Turkey the EU’s fifth trade partner, while the EU is Turkey’s first. In addition, bilateral trade in services amounted to 27 billion of euros in 2014.
In May 2015 the EU Trade Commissioner and the Turkish Economy Minister jointly launched the process of preparing the upgrade of the EU-Turkey bilateral trade and economic relations. The process consists of the enhancement of the trade relations in areas such as trade in services and public procurement, the further liberalisation of trade in agricultural products, and the modernisation of the Customs Union.
The public consultation aims to gather detailed views relating to the future trade and economic relationship between the European Union and Turkey. The results of the consultation will feed into the Impact Assessment which Commission services are currently preparing with regards to the enhancement of trade and economic relations between the European Union and Turkey.
The public consultation is open until 9 June 2016.