European Union–Turkey Customs Union
Customs union between Turkey and European Union / From Wikipedia, the free encyclopedia
The European Union–Turkey Customs Union is a trade agreement between the European Union (EU) and Turkey. The agreement came into effect on 31 December 1995, following a 6 March 1995 decision of the European Community–Turkey Association Council to implement a customs union (Turkish: Gümrük Birliği) between the two parties.[1] Goods may travel between the two entities without any customs restrictions. The Customs Union does not cover essential economic areas such as agriculture (to which bilateral trade concessions apply), services or public procurement.
In 1996, a free trade area was established between Turkey and the European Union for products covered by the European Coal and Steel Community. Decision 1/98 of the Association Council covers trade in agricultural products.
In addition to providing for a common external tariff for the products covered, the Customs Union foresees that Turkey is to align to the acquis communautaire in several essential internal market areas, notably with regard to industrial standards.
According to a 2020 study, the agreement boosted trade between the EU and Turkey. In manufacturing, there was a 55–65 per cent increase in EU‐Turkey trade compared with the Ankara Agreement.[2]