ISTANBUL
The Foreign Economic Relations Board (DEİK) will be lobbying for the modernization of the customs union between Türkiye and the European Union, says Nail Olpak, the president of DEİK.
The upcoming elections for EU Parliament pose a risk as the elections may slow down the process, Olpak told a group of journalists in Istanbul.
“Steps can be taken in this regard as of the second half of the year, which of course means some waste of time. We would like to see the decisions, which Türkiye has been looking for, taken before the elections and the customs union is updated as soon as possible,” he said.
The other important issue DEİK keeps an eye on the relations with the bloc is the EU Green Deal and the carbon border adjustment mechanism, Olpak added.
“The Green Transition and the Green Economy are on the agenda now… As the Turkish business world, we need to prepare for this new era, specifically in Europe, where Türkiye’s largest export market,” he noted.
“The trade volume between Türkiye and the European Union is around $200 billion, but the customs union only covers industry and processed agricultural products,” DEİK said in a statement, adding that the customs union needs to be rapidly updated to adapt to the requirements of today’s trade environment.
DEİK has been reiterating this stance on behalf of the Turkish business community in meetings it holds with EU member countries, the board said.
The board recalled that Türkiye’s exports reached an all-time high of $255.8 billion last year despite the global challenges.
Türkiye aims for a total export revenue of $375 billion, including services exports, in 2024, it added.
