Turkish government might suspend the customs union agreement with the EU

Today, the Turkish Minister for European Affairs stated that if the free trade agreement between the EU and US goes through, then the Turkish government might suspend its customs union agreement with the EU.

The candidate country for accession to the EU, applies a customs union agreement with the EU since the 1990s and many politicians expressing concerns that the Transatlantic Partnership for Trade and Investment (TTIP) negotiated by the US and the EU could damage or threaten Turkey’s position as a trading partner.

The Turkish Prime Minister expressed his fear of the country loosing billion of dollars in trade transactions if the agreement and the underway negotiations are implemented without Turkey included.