The Customs Union Agreement with the EU Must Be Updated

EU-Turkey Customs Union Agreement Should Be Updated Turkish Exporters Council (TİM) Chairman Mustafa Gültepe stated that they are working to further increase Turkey's exports to Europe, its largest trading partner, and announced that they aim to raise exports to USD 200 billion in 2025. In a written statement marking '9 May Europe Day', celebrated as the day when the foundations of the European Union were laid, Mustafa Gültepe said that Turkey's economic interests depend on intensive relations and integration with Europe. Emphasizing that Turkey achieved USD 140 billion in exports to Europe in 2022, Gültepe stated: "In 2025, we aim to increase our total exports to at least USD 300 billion. To achieve this target, we need to increase our exports to Europe to USD 200 billion." [caption id="attachment_152487" align="aligncenter"] Mustafa Gültepe[/caption]

USD 140 billion in exports

Gültepe, noting that Turkey achieved USD 140 billion in exports to Europe in 2022, a 12.4% increase from the previous year, continued as follows: "Political, economic and cultural relations between Turkey and Europe need to develop further. Looking at economic data, Europe accounts for 55% of our total exports. The countries to which we export the most are Germany, United Kingdom, Italy, Spain and France. The top five sectors exporting the most to the European continent are automotive, ready-made garments and apparel, chemicals and chemical products, ferrous and non-ferrous metals, and electrical and electronics, respectively. Our country has an export target of USD 300 billion in 2025. To achieve this target, we need to increase our exports to Europe to USD 200 billion."   Mustafa Gültepe, noting that they are developing projects to further increase cooperation with Europe, continued as follows: "In this context, we recently organized the first event in our 'New Horizons in Trade' series with the participation of Deputy Consuls General of European countries based in Istanbul. At our meeting with participants from 16 countries, we discussed ways to increase our trade. Turkey and Europe have significant potential in mutual trade. To realize this potential, we reiterated our demand for an update to the Customs Union Agreement with relevant parties. Additionally, we need to increase our cooperation in areas such as agriculture, public procurement, services and e-commerce." TİM Chairman Mustafa Gültepe stated that the 'New Horizons in Trade' series will continue on the basis of different country groups. Gültepe added that in the coming period they will hold events for Middle East and North Africa (MENA) countries, the Black Sea Economic Cooperation Organization and the Organization of Turkic States, Far East and Asian countries, as well as Transatlantic and South American countries.