Turkey's Potential as Production Hub for Europe Highlighted at Brussels Summit
At the Turkey-EU Business Summit held in Brussels, it was stated that Turkey could become Europe's regional production hub, while calls were made for the modernization of the Customs Union and the expansion of trade.
Speaking at the Turkey-EU Business Summit held in Brussels in cooperation with the Foreign Economic Relations Board and the European Business Summit, Belgian Deputy Prime Minister Maxime Prevot stated that Turkey can become Europe's regional production hub. At the summit, Turkish and European business world representatives emphasized the need to strengthen economic relations and update the Customs Union.
Emphasis on Turkey from Belgium
Belgian Deputy Prime Minister Maxime Prevot said at the summit in Brussels that European companies are trying to reduce their dependence on distant suppliers. Prevot stated that Turkey has the capacity to make Europe's supply chains more resilient.
Expectation for Custom Union Modernization
Deputy Minister of Trade Mustafa Tuzcu stated that official negotiations for the modernization of the Customs Union still cannot be launched, despite about ten years having passed since the European Commission requested a mandate.
'Made with Europe' Proposal
DEIK President Nail Olpak called for the expansion of the Customs Union to cover services, e-commerce, public procurement, and agriculture. Olpak suggested adopting a "Made with Europe" approach instead of "Made in Europe" in industrial policies.
Inadequacy of the Trade Model
European Round Table for Industry Secretary General Anthony Gooch Galvez stated that the 30-year-old trade model has fallen short. He noted that merchandise trade between the two sides exceeded 220 billion euros, while service trade remained at 42 billion euros.
Transportation and Digital Trade Targets
Turkish Airlines Chairman of the Board and the Executive Committee Murat Seker announced that they carried approximately 26 million passengers in European operations in the first 9 months of the year. Trendyol Group President Caglayan Cetin reported that they aim to establish a digital Silk Road between Turkey and Europe.