Will the Customs Union Agreement be updated?

The Customs Union Agreement signed between Turkiye and EU countries is far from producing solutions to problems due to changing trade conditions. This issue is on the agenda of European companies operating in Turkiye. According to the companies, everything is ready for the update of the agreement…

Criticism of the Customs Union Agreement signed between Turkiye and European Union countries 29 years ago is increasing.

Ankara is communicating to its European counterparts that the agreement needs to be updated.
European companies operating in Turkiye are also aware of the problems…

Livio Manzini, President of the Italian Chamber of Commerce and Industry Association, stated that this agreement has not been updated until today, “As European companies working in Turkiye, we think that this agreement should be updated, expanded and deepened.”

European investors in Turkiye conveyed their update requests to the EU

European investors producing in Turkiye broke new ground. They visited Brussels as a delegation to update the Customs Union.

Livio Manzini said that in addition to the Italian Chamber of Commerce, the French Chamber of Commerce, the German Chamber of Commerce, 8 in total in Belgium and bilateral chambers of commerce in Turkiye, they went there as a delegation and that high-level meetings were held there and it was received positively.

“This is the best time to expand relations with Turkiye”

The increasing inflation problem and energy crisis in the world also affect trade. So how will all this affect the decision of the authorities in Brussels?

Manzini said:

“We think this is the best time to expand and expand relations with Turkiye. The Western world wants to get away from the Far East for many reasons. Therefore, supply chains are desired to be shorter. Turkiye’s importance for the western world in general is coming even higher.”

Source: Trthaber / Translated by Irem Yildiz

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