Türkiye, EU to gain from closer economic ties amid global challenges
Serkan Demirtaş - ANKARA
Closer economic and trade ties will serve the interests of both Türkiye and the European Union amid global challenges, a senior EU official said, expressing Brussels’ strong willingness to modernize the customs union while underlining that deepening trade in public procurement and services will unlock new opportunities.
In a written interview with the Hürriyet Daily News ahead of the Türkiye-EU High Level Economic Dialogue (HLED) meeting with Economy Minister Mehmet Şimşek, EU Commissioner for Economy and Productivity Valdis Dombrovskis expressed the importance of continued cooperation between the two sides.
“The EU-Türkiye relationship is one of strategic importance, built on decades of cooperation across shared priorities including security, trade, the economy, migration and climate change,” Dombrovskis said.
The EU shares a common interest with Türkiye, a candidate country, in strengthening economic security and promoting regional stability, the commissioner stressed. “In an environment of global uncertainty, it is in our best interest to reinforce our trade and investment relations, and value chain integration,” he added.
In their first HLED meeting since a six-year hiatus in 2025, Türkiye and the EU agreed to intensify efforts to better leverage current economic channels while building new trade pathways.
“The depth of our economic relationship is clear: bilateral trade under the EU-Türkiye Customs Union reached a record high of over 217.6 billion euros in 2025, with EU exports to Türkiye totaling 114.3 billion euros and imports amounting to 103.3 billion euros,” Dombrovskis said.
“For Türkiye, the EU’s significance is even greater: 42.7 percent of Türkiye’s exported goods are destined for the EU, while 35.3 percent of its imports originate there. This is clearly a deeply intertwined and mutually beneficial economic partnership.”
Customs unions at the core of our relations
On a question about the modernization of the customs union, the EU commissioner said that the 1996-dated agreement is at the core of bilateral relations, which placed Türkiye as the fifth-largest trade partner of the bloc.
“The Commission has had intensified engagement with Türkiye to discuss this matter, including a High-Level Dialogue on Trade in July 2025, with more dialogue opportunities coming this fall,” he underlined.
“Our commitment is clear: we see Türkiye as a key partner, and we are committed to reinforcing our cooperation. This includes working towards better implementation of the Customs Union and paving the way for modernization.”
Brussels has a clear interest in preserving and strengthening the existing trade framework and evaluates that deepening the trade relationship in public procurement and services would bring significant new opportunities for businesses on both sides, the commissioner noted.
“We welcome efforts from Türkiye to remove trade barriers. We also expect Türkiye to do more preventing the circumvention of EU sanctions against Russia and ensuring that dual use goods do not end up on the battlefield in Ukraine. These efforts must continue in order to progress the modernization of our Customs Union,” he said.
“Progress towards resumption of the formal talks on Cyprus settlement is also of high importance: for a full-fledged EU-Türkiye bilateral relationship, progress on the Cyprus issue would have a positive impact.”
Maintaining confidence of investors
Dombrovskis also informed that he would discuss the broader economic outlook, recent EU competitiveness initiatives and the structural reforms Türkiye is pursuing under its Economic Reform Program during his meetings with Şimşek and other Turkish officials.
“Of course, a relationship of depth and trust demands frank and open exchanges. Dialogue is the tool that allows us to convey to the Turkish authorities our key messages and expectations,” the commissioner said.
“It is also a crucial communication channel to ensure frank exchange of views and raise concerns. The rule of law provides the strongest foundations for maintaining the confidence of international investors and preserving macroeconomic stability. Let me recall that Türkiye has a very long democratic tradition and also a strong civil society. This is what we would like to strengthen in order to further build trust between the EU and Türkiye.”