What the Revival of Turkey-EU Trade Relations Puts Forward: Re-Thinking The Customs Union

What are the main drivers of Turkish exports? What are the dynamics behind the exports to the EU? What does the recent revival of the Turkey-EU trade relations indicate?

The year of 2013 has drawn attention as a period of revival of the Turkey-EU trade relations. Indicators for the first months of 2014 as well as the forecasts for the near future imply that this upward inclination will get strengthened as the EU economies recover. In this regard, this study first explores how the GDP growth in partner countries affect Turkish exports and then focuses on the recent trend observed within the context of European markets. The paper then establishes a link to the importance of the Customs Union framework based on the regeneration of bilateral trade relationships.

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