POST Online Media Lite Edition


Turkey may suspend customs deal with EU

Staff writer |
Turkey is planning to suspend its Customs Union deal with the EU if the TTIP does not include an article emphasizing the deal to be applicable for all Customs Union members, Turkish European Union Minister Volkan Bozkir has said.

Article continues below

"The planned trade deal between the U.S. and EU may cost $3 billion to Turkey. We cannot give the advantages of the Customs Union deal to all countries with which the EU signs such agreements, even if there is not any legal framework," he said during his two-day Oslo visit.

"Norway also made a special economic deal with the EU even though it is not a member. The planned TTIP will also have a negative impact on Norway," he said.

"When Turkey made the deal with the EU in 1995, no article was put saying the agreements that the EU signs with other countries will not be applicable for Turkey. Such countries, therefore, export to Turkey with zero customs, as they have a free trade deal with the EU, but not with Turkey. If Turkey signs a free trade deal with those countries, it loses too much," Bozkir added.

The planned trade deal between the U.S. and the EU will create massive losses for Turkey, he also said.

"We just want them to put an article in the deal, saying it ‘will be applicable for all Customs Union members automatically.' Our trade volume with the EU has exceeded 150 billion euros. This really matters for us," he said.

What to read next

Turkey plans free trade zone with Russia
Turkey avoids economic pain with EU trade agreement
Turkey agreed to wide-ranging post-Brexit trade deal with UK