HomeEconomyEU official highlights Turkish firms' integral role in EU value chains

EU official highlights Turkish firms’ integral role in EU value chains


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The European Union Commissioner for Neighborhood and Enlargement Oliver Varhelyi stated Tuesday that Turkish corporations are an integral a part of the EU worth chains and have turn into sturdy opponents within the European market, Anadolu Agency (AA) reported.

The commissioner delivered these remarks whereas talking on the occasion titled “Global Challenges, European Union and Türkiye: The Role of the Business World,” organized by the Permanent Representative of Türkiye to the EU, Ambassador Faruk Kaymakcı, and the top of the Turkish Industrialists’ and Businessmen’s Association (TÜSIAD), Orhan Turan, on the occasion in Brussels, commemorating the a hundredth anniversary of the republic.

Conveying pleasure in marking the centennial of the Republic of Türkiye, Varhelyi stated: “In the past century, we witnessed a comprehensive transformation, unprecedented socio-economic development, innovation and progress.”

“Türkiye is a candidate country and a key partner of the EU. Türkiye is an important NATO ally and a strategic partner in a challenging region,” he stated.

Varhelyi identified that since taking workplace on the EU Commission in 2019, he has diligently labored on bettering EU-Türkiye relations.

Touching upon the Customs Union, the commissioner acknowledged the success achieved by the union. “Despite the challenging global economic environment, it has led to a significant increase in trade and investment,” he stated, reiterating that Türkiye is the seventh largest buying and selling accomplice of the European Union, whereas the EU is Türkiye’s largest buying and selling accomplice.

In addition, he recalled the expansion in bilateral commerce facilitated by the Customs Union, and stated, “In the past year, the bilateral trade between the EU and Türkiye that stood at approximately 200 billion euros ($217 billion) reached a new dimension.”

The EU-Türkiye Customs Union got here into power in 1995 however is restricted to industrial items and processed agricultural merchandise. Türkiye is the one non-EU nation with a customs union settlement with the bloc.

Moreover, emphasizing that Turkish companies have full entry to the EU inside market, Varhelyi stated, “Turkish companies are an integral part of European value chains and have become strong competitors in our market.”

“We still have a lot of work to do. We are more engaged than ever. We may not agree on everything, but there are more things that unite us than divide us,” the EU official additional stated.

Explaining that intensifying cooperation is mutually helpful within the present geopolitical setting, Varhelyi talked about optimistic progress could possibly be made in areas equivalent to inexperienced and digital transformation, power, trade, innovation, expertise, migration and safety.

“With its dynamic and modern economy, strong and educated workforce, and geographical proximity, Türkiye should be a natural choice for the EU,” stated Varhelyi.

He expressed that the nearer relationship within the new interval would have political, financial and cultural advantages.

Ambassador Kaymakcı for his half said that Türkiye “is already part of the EU economically, commercially and financially” including “that the country is only politically not within the EU.”

Recalling that the founding father of the Turkish republic Mustafa Kemal Atatürk developed industrial, industrial and monetary insurance policies from the early years of the republic, Kaymakcı stated, “We had only five factories at the time of the establishment of the republic, but today we hold up thousands of factories and thousands of joint ventures with Europeans in Türkiye.”

“Türkiye’s innovative industrialization policy will continue. Our government is determined in this process,” Kaymakcı stated.

He additionally expressed hope that the EU Leaders Summit in December would open up optimistic momentum for Türkiye’s accession perspective.

Türkiye has essentially the most prolonged historical past with the union and essentially the most extended negotiation course of. While being a proper candidate for membership since 1999, it was excluded from the enlargement image within the final report printed by the EU final week, with Ankara being important of the report, terming it as “biased.”

Türkiye for years anticipated to see concrete outcomes from the dragged-out course of, particularly for an replace on the customs union and visa liberalization.

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