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 need to update 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 of international trade have changed in recent years, emphasizing that the Turkey-EU Customs Union needs to be updated immediately. Tuzcu reminded that the Customs Union was established 30 years ago when the EU had only 15 members, highlighting the importance of re-evaluating it to meet today’s needs.

Target for 2024: 220 Billion Dollars in Trade

Tuzcu indicated 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 stated that Turkey and the EU have a long-term and dynamic partnership, and that acting together will shape the future.

Developing Areas and Joint Projects

Olpak noted that cooperation in energy security, climate, and defense industry could significantly contribute to Turkey's strategic autonomy in Europe. He also pointed out that ensuring free movement is necessary for deepening trade.

New Opportunities in Global Trade

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

This summit hosted significant panels involving EU officials and businesspeople addressing the update of the Customs Union and digital issues.