Turkiye-EU High-Level Trade Meeting Set for July 8th

Minister of Trade, Ömer Bolat, announced that the high-level trade dialogue between Turkiye and the European Union (EU) will take place in Brussels on July 8th. Following a meeting with Vice President of the European Commission, Valdis Dombrovskis, at the newly inaugurated Turkiye Exporters Assembly (TIM) Brussels Representation today, Minister Bolat made statements to the AA correspondent.

Touching upon relations with the EU, Bolat said, “Expanding and updating the Customs Union in a way that benefits both parties is our biggest goal.”

Bolat expressed that they are working on updating the Customs Union and resolving issues, emphasizing mutual understanding in various matters and their commitment to constructive and effective dialogue.

Minister Bolat stated, “I am very pleased with Dombrovskis’s proposal to establish high-level trade dialogue with Turkiye and our acceptance of this proposal. Dombrovskis has invited us and our delegation to Brussels for the first meeting of the high-level trade dialogue on July 8th. We will work on many agenda items between Turkiye and the EU, and our contacts will continue closely.”

Reminding that Turkiye conducts 40% of its foreign trade with the EU, Bolat pointed out that Turkiye is the EU’s 5th largest trading partner.

Bolat emphasized the mutual need for cooperation between the EU and Turkiye, saying, “By working together and collaborating on various issues, we will enhance our economic relations in many ways.”

Valdis Dombrovskis, Vice President of the European Commission, also expressed his pleasure in announcing the first high-level trade dialogue with Turkiye on July 8th, saying, “Turkiye is a key partner for the EU, and this includes trade, which has continuously increased over the years.”

Dombrovskis stated, “Trade between the EU and Turkiye reached a new record exceeding €206 billion in 2023. This made Turkiye the EU’s fifth-largest trading partner last year, up from seventh the previous year.”

Describing mutual trade as balanced and high value chain integration supporting it, Dombrovskis recalled that thanks to the Customs Union, Turkish companies are very well integrated into European supply chains in various sectors such as motor vehicles, machinery, and electrical equipment.

Dombrovskis emphasized that since 2021, they have refocused on trade as the focal point of EU-Turkiye relations and have taken specific steps in this regard.

Stating that developing cooperation and mutually beneficial relationships with Turkiye is in the EU’s strategic interest, Dombrovskis said, “This high-level trade dialogue meeting is a promising step towards reuniting with Turkiye to establish strong economic and trade relations and building stronger ties.”

Source: Trthaber / Prepared by Irem Yildiz

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