AB-Turkey Business Summit: The Future of the Customs Union was Discussed.

EU-Turkey Business Summit Held in Brussels

The Foreign Economic Relations Board (DEIK) and the European Business Summit (EBS) collaborated to organize the EU-Turkey Business Summit, which took place in Brussels. The summit witnessed intense discussions on the future of trade and the update of the Customs Union.

Updating the Customs Union is Necessary

Deputy Minister of Trade Rıza Tuzcu stated in his speech at the summit that the rules regarding international trade have changed in recent years, emphasizing the urgent need to update the Turkey-EU Customs Union. Tuzcu recalled that the Customs Union was established 30 years ago when there were only 15 members in the EU, stressing the importance of reevaluating it to meet current needs.

Target for 2024: 220 Billion Dollar Trade

Tuzcu stated that Turkey expects its total annual trade with the EU to reach 220 billion dollars in 2024, noting that Turkey is currently the fifth-largest trading partner of the EU.

Future Vision: Progress Based on Partnership

DEIK President Nail Olpak emphasized that updating the Customs Union is not only an economic necessity but also a strategic opportunity. Olpak remarked that Turkey and the EU have a long-term and dynamic partnership, asserting that collaboration will shape the future.

Evolving Areas and Joint Projects

Olpak pointed out that cooperation in energy security, climate, and the defense industry could significantly contribute to Turkey's strategic autonomy in Europe. He also stressed the need for the free movement of goods to deepen trade.

New Opportunities in Global Trade

DEIK Turkey-Europe Business Councils President Mehmet Ali Yalçındağ expressed that Turkey is a strategic partner for Europe, and together they could write a significant story in global trade. He underscored the need to reduce economic dependencies and strengthen security cooperation.

The summit hosted important panels among EU officials and businesspeople, addressing the update of the Customs Union and digital issues.