Customs Today
  • Home
  • Islamabad
  • Karachi
  • Lahore
  • National
  • Transfers and Postings
  • Chambers & Associations
  • Business
No Result
View All Result
Customs Today
  • Home
  • Islamabad
  • Karachi
  • Lahore
  • National
  • Transfers and Postings
  • Chambers & Associations
  • Business
No Result
View All Result
Customs Today
No Result
View All Result

Turkey development party & EU quietly decide to update Customs Union

byCustoms Today Report
20/03/2015
in Uncategorized
Share on FacebookShare on Twitter

ANKARA: Turkey’s Justice and Development Party (AKP) government and the European Union have quietly decided to upgrade the Customs Union which, in the long run, might serve to stop “corruption allegations” and also boost the country’s competitiveness.

Talks about revising the Customs Union, which is in its 20th year, have long been on the agenda. Finally Ankara and the 28-nation bloc agreed on a road map last week, according to which the European Commission will first prepare an impact assessment report, diplomatic sources familiar with the issue told the Daily News.

You might also like

Amid Hormuz instability, attention shifts to Pakistan’s Gwadar port

25/07/2026

Pakistan-Libya trade has potential to exceed $1bn, claims LCCI President Saigol

25/07/2026

Following the impact assessment report, which is expected to be ready by the end of the year, the commission will receive a mandate from member countries to start negotiating with Turkey, something that requires the consent of all of 28 members.

Turkey has long been complaining that while it is obligated to align with EU legislation, it cannot participate in decision-making in areas related to the Customs Union. Another issue of concern was about free trade agreements signed between EU and third countries. The refusal of third countries to conclude free trade agreements with Turkey has worked to the disadvantage of Turkey; the Turkish government is especially worried about the prospect of exclusion from the Transatlantic Trade and Investment Partnership (TTIP) between the United States and the EU.

As the two sides have not been able to find common ground for a long time, some Turkish ministers have even threatened to remove Turkey from the Customs Union.

Tags: Customs Union

Related Stories

Amid Hormuz instability, attention shifts to Pakistan’s Gwadar port

byCT Report
25/07/2026

GWADAR: Iran has closed and reopened the Strait of Hormuz several times since the US-Iran war began in February. When...

Pakistan-Libya trade has potential to exceed $1bn, claims LCCI President Saigol

byCT Report
25/07/2026

LAHORE: Lahore Chamber of Commerce and Industry hosted a seminar titled “Enhancing Pakistan-Libya Trade and Economic Cooperation”, attended by Major...

SBP foreign exchange reserves increase by $33m

byCT Report
25/07/2026

KARACHI: Pakistan’s foreign exchange reserves recorded a modest increase during the week ended July 17, 2026, according to the latest...

New Finance Act rule forces businesses to get FBR-verified invoice numbers

byCT Report
25/07/2026

ISLAMABAD: The Federal Board of Revenue (FBR) will require taxpayers to issue a verifiable and unique invoice number for every...

Next Post

Rs1.7tr-asset HBL to acquire First Microfinance Bank, likely to invest Rs2b

  • Terms and Conditions
  • Disclaimer

© 2011 Customs Today -World's first newspaper on customs. Customs Today.

No Result
View All Result
  • Transfers and Postings
  • Latest News
  • Karachi
  • Islamabad
  • Lahore
  • National
  • Chambers & Associations
  • Business
  • About Us

© 2011 Customs Today -World's first newspaper on customs. Customs Today.