11. EU-Turkey Trade: A Case of Deep Integration
- Author:
- Luigi Narbone and Agnieszka Skuratowicz
- Publication Date:
- 12-2008
- Content Type:
- Journal Article
- Journal:
- The International Spectator
- Institution:
- Istituto Affari Internazionali
- Abstract:
- The 1963 Ankara agreement established the framework for the relations between Turkey and 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 and its composition. The subsequent pre-accession process has further fostered trade integration, facilitated structural reforms and boosted the country's economic potential. The increasingly close political and economic relations have also promoted stability and growth in the Turkish economy. These positive developments have been linked, however, to the prospects of Turkey's EU accession and could be undermined by uncertainty over the eventual outcome of this process.
- Topic:
- Economics
- Political Geography:
- Europe