EU-Turkey Trade: A Case of Deep Integration

In: The international spectator: journal of the Istituto Affari Internazionali, Band 43, Heft 4

Abstract

The 1963 Ankara agreement established the framework for the relations between Turkey & the European Economic Community. A key intermediate objective was setting up a customs union, which was established in 1996. From a long-term trade perspective the customs union has had a positive impact on EU-Turkey bilateral trade, its growth & its composition. The subsequent pre-accession process has further fostered trade integration, facilitated structural reforms & boosted the country's economic potential. The increasingly close political & economic relations have also promoted stability & growth in the Turkish economy. These positive developments have been linked, however, to the prospects of Turkey's EU accession & could be undermined by uncertainty over the eventual outcome of this process. Adapted from the source document.