EU wants to upgrade customs arrangements with Turkey

Image
AP Brussels
Last Updated : Dec 21 2016 | 8:23 PM IST
The European Union wants to launch talks with Turkey to update their customs union, which at present only applies to goods.
The EU's executive Commission said Wednesday it would like to see it include agriculture, services and public procurement.
The Commission predicts that such a move would increase EU exports to Turkey by 27 billion euros (USD 28 billion) each year and raise imports by 5 billion euros.
It said in a statement that "respect of democracy and fundamental rights will be an essential element of the agreement."
The Commission now requires the unanimous endorsement of the 28 EU member states on a mandate to launch the talks. The agreement could be concluded in about three years.

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Dec 21 2016 | 8:23 PM IST

Next Story