Updating the decades-long customs union with the European Union shouldn’t be a selection however a necessity, a prime financial system official mentioned Tuesday, renewing the decision for the modernization of the pact.
Trade Minister Ömer Bolat, alongside Maros Sefcovic, the EU’s commissioner for Trade and Economic Security, addressed the Türkiye-EU High-Level Trade Dialogue assembly held in Ankara.
Bolat pressured that Türkiye has change into a manufacturing hub close to Europe with its certified workforce, dynamic manufacturing capabilities and superior monetary system, efficiently integrating into world provide chains.
“In terms of the security and resilience of global supply chains, Türkiye is a strategic partner for Europe. Our geostrategic position and production capabilities offer vital support in reducing the EU’s dependency on foreign sources for critical products,” he mentioned.
“Despite all these advantages, the current structure of the Türkiye-EU Customs Union does not fully align with today’s trade dynamics, and both sides agree on this point,” he added.
“Updating the customs union within the framework of digitalization, trade in services, sustainable development and next-generation trade policies presents a key opportunity for advancing our relations,” the minister was quoted by Anadolu Agency (AA) as saying.
“The consensus we’ve reached with the European Commission and the technical progress made should not be disregarded by the council. Updating the customs union is not a choice but a necessity; it is a process in which both parties will benefit,” Bolat furthered.
“We cannot manage the trade of 2025 with rules established 30 years ago.”
The EU is Türkiye’s key buying and selling companion and is the one non-EU nation that has a customs union take care of the bloc. The settlement was struck in 1995.
Speaking on the news convention following the assembly, Bolat mentioned the dialogue added strategic depth to Türkiye-EU financial relations and helped create a brand new, optimistic agenda.
He recalled {that a} assembly was held in June in Paris between delegations, together with himself and Sefcovic, and that in December 2024, a gathering came about between President Recep Tayyip Erdoğan and European Commission President Ursula von der Leyen.
“In today’s meeting, we made significant progress on overcoming trade barriers, having electronically issued A.TR certificates accepted by the EU, cooperation with the EU on Türkiye’s TAREKS and inspection regulations, and deepening our cooperation in green and digital transformation,” he acknowledged.
“The strengthening of our joint value chains and our potential to progress together in these areas will guide our future work,” he added.
Bolat additionally famous that the customs union has made a big contribution to bettering Türkiye’s industrial infrastructure and enhancing the competitiveness of Turkish merchandise in world markets.
Earlier this 12 months, in April, the duo additionally held the primary Türkiye-EU High-Level Economic Dialogue in six years.
Visa liberalization
On the query of visa liberalization, Bolat acknowledged that concrete steps are anticipated from each member states and EU establishments.
“Until full visa liberalization is granted for our citizens through agreements, we urgently request, at the very least, facilitated applications, long-term and multiple-entry visas for businesspeople, transporters, technical experts, drivers, academics, university students and NGO leaders, and for human resources and technical equipment to be strengthened in the diplomatic missions of member countries,” he famous.
The Turkish business neighborhood has been more and more exasperated by the bureaucratic hurdles concerned in securing Schengen visas, a system that was as soon as thought of routine however has now change into an impediment for a lot of.
Lengthy processing instances and a rising variety of EU visa rejections in recent times became a row that has been straining relations between Ankara and the bloc.
“In addition, lifting transit passage quotas for our transporters in mutual trade has become a necessity for our shared economic interests,” he mentioned.
Moreover, he recommended that substantial work is being completed by EU establishments and member states on visa facilitation, saying: “They said that visa processes will be expanded, a new threshold system will be introduced, and a more streamlined process will be ensured. A concrete plan will be announced and implemented soon.”
“We see this as a significant step forward. However, our main expectation is the full implementation of visa liberalization for all Turkish citizens in all member states, as agreed in relevant accords, in the short term,” he additionally mentioned.
Deepening commerce ‘shared precedence’
At the identical time, he identified that in this turbulent interval globally, Türkiye-EU cooperation has change into much more crucial, provided that they’re one another’s prime commerce and funding companions.
He underlined that with its infrastructure, know-how, engineering, manufacturing capabilities and human assets, Türkiye is a necessary companion to assist Europe obtain its industrial, protection and innovation objectives.
“Since the customs union came into effect on Jan. 1, 1996, our exports to the EU have increased tenfold, making Türkiye the EU’s fifth-largest trade partner. The EU remains Türkiye’s number one trade partner. Türkiye is a significant production and supply base for the EU,” he furthered.
“About 70% of investments coming to Türkiye are from European countries, and these foreign investments generate $70 billion (TL 2.79 trillion) in export revenues annually. With today’s meeting, we reaffirmed that deepening our bilateral trade and economic relations is a shared priority,” he concluded.
Sefcovic, for his half, additionally acknowledged that it’s encouraging that EU-Türkiye commerce relations are getting stronger.
Emphasizing that the partnership has been ongoing for a very long time, he mentioned: “Bilateral trade between the EU and Türkiye is expected to reach 210 billion euros ($247.87 billion) this year. This shows the potential for deeper, more extensive cooperation,” he mentioned.
“As a customs union partner and EU candidate country, Türkiye plays a key role in our shared economic future. The EU is Türkiye’s biggest trade and investment partner. We are determined to strengthen this relationship further.”
Source: www.dailysabah.com