ANKARA (AA) – Official negotiations regarding the update of the Customs Union agreement between Turkey and the European Union will be launched by early 2017 at the latest, Turkish Economy Minister Nihat Zeybekci said Monday.
After Germany’s economy minister, Sigmar Gabriel, said Sunday that negotiations between the U.S. and the EU over the Trans-Atlantic Trade and Investment Partnership (TTIP) had “failed”, Zeybekci said this situation was not expected to have a positive or a negative impact on Turkey.
TTIP negotiations between the U.S. and the EU have been a matter of contention between Ankara and the bloc.
Indeed, Turkey has argued that the Customs Union deal, in its current state, fails to protect Turkish interests when the EU signs a free trade agreement with third parties.
“Following an updated custom union agreement, Turkey will be part of all free trade agreements the EU signs with other countries, including the TTIP,” Zeybekci said.
Turkish officials had repeatedly criticized future free trade agreements signed by the EU with other countries, such as the U.S., which would effectively open Turkey’s market to exports from such states, with no reciprocity.
“Official tours [of negotiations] will begin at the end of 2016 or at the latest in the beginning of 2017,” Zeybekci said.
He added that the updated version of the Customs Union agreement would be expanded to cover agricultural goods, the service sector and pubic procurement. The current deal concerns mainly industrial goods.
“At the moment, impact assessments from both sides have been finalized,” he added. The Customs Union agreement was established in 1995.
