Pakistan News

EU, Turkey to update customs union

EU, Turkey to update customs union

BRUSSELS: The EU and Turkey agreed to update a 20-year-old customs union on Tuesday, while Brussels promised to address Ankara’s concerns about a huge European trade deal with the United States.

Turkey is a long-standing candidate for EU membership, beginning so-called accession talks in 2005, but the process has been bogged down for years amid opposition from some key EU states.

The customs union was set up in 1995 as a stepping stone to EU accession.

Turkey complains it is now outdated.

In the talks, EU Trade Commissioner Cecilia Malmstroem and Turkish Economy Minister Nihat Zeybekci agreed to a roadmap to expand the customs union, broadening it to include services, government contracts and most agricultural goods.

“Turkey has not given up on becoming a full member of the EU and at the end of this process it will be nearer,” said Zeybekci.

The minister’s biggest worry is the Transatlantic Trade and Investment Partnership (TTIP), the huge free trade pact being negotiated by the US and the EU that would create the world’s biggest market.

Published in Dawn, May 13th, 2015

On a mobile phone? Get the Dawn Mobile App: Apple Store | Google Play

Similar News
Recent News
Back to top