Business · Trade · 1 hr ago
DEİK head calls for updated Türkiye-EU customs union
DEİK president Nail Olpak called for an updated Türkiye-EU customs union at a business summit in Brussels.
The customs union has been a backbone of economic ties for more than three decades, but Olpak said its current structure no longer meets today's needs.
He said an update could expand cooperation in services, e-commerce, public procurement and agriculture.
Olpak said Turkish-made products should be part of Europe's industrial ecosystem without new quotas or barriers.
He argued that this would support Europe's resilience and competitiveness as Türkiye contributes to supply chains and the green and digital transition.
He also said new transport links to Iraq and the Gulf could strengthen regional connectivity.
DEİK president Nail Olpak called for updating the customs union between Türkiye and the European Union.
He said products made in Türkiye should be recognized as part of Europe’s industrial ecosystem without new quotas or barriers.
At a Türkiye-EU Business Summit in Brussels, Turkish Trade Minister Ömer Bolat urged the EU not to exclude Türkiye or the customs union from its proposed Industrial Accelerator Act.
Olpak said an updated framework could expand cooperation in services, e-commerce, public procurement and agriculture.
Bolat cited the growth of trade and investment ties between Türkiye and the EU over the customs union’s three decades.
- Who
- DEİK president Nail Olpak and Turkish Trade Minister Ömer Bolat.
- What
- They called for stronger Türkiye-EU economic cooperation and warned against excluding Türkiye or the customs union from the EU’s proposed Industrial Accelerator Act.
- When
- At the Türkiye-EU Business Summit; the date of the event is not stated.
- Where
- Brussels.
- Why
- They said Türkiye and the EU have closely linked economies and supply chains, and that cooperation benefits both sides.
This story does not have two clearly opposing sides.
The customs union between Türkiye and the EU took effect at the beginning of the year.
Türkiye-EU trade reached 233 billion dollars, according to Bolat.
Olpak and Bolat spoke at the summit in Brussels and made calls for continued or stronger cooperation.
- Customs union began
- 1996
- Summit location
- Brussels
- Annual trade
- Rose from about 21 billion dollars to 233 billion dollars last year, according to Bolat
- Foreign investment stock in Türkiye
- 294 billion dollars, with about 63 percent from EU companies, according to Bolat
- Automotive trade
- 62 billion dollars between Türkiye and the EU, according to Bolat
3 sources
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What people are saying
The current structure of the customs union no longer meets today’s needs
Updating the existing framework would create new opportunities for cooperation in services, e-commerce, public procurement and agriculture.
However, the solution should not be to exclude trusted partners or the Customs Union.
The Customs Union has been extremely successful over the past 30 years.