Top Turkish and European Union officials are set to gather on Thursday for the first high-economic dialogue meeting in six years, aimed at accelerating economic relations and deepening strategic cooperation between the two sides.
Treasury and Finance Minister Mehmet Şimşek is due in Brussels, where he is expected to give a speech and meet EU Commissioner for Economy and Productivity Valdis Dombrovskis and EU Commissioner for Enlargement Marta Kos.
"As someone who co-chaired the first meeting in 2016, I am delighted to see this platform reactivated," said Şimşek ahead of the talks.
He reaffirmed Türkiye's commitment to EU membership, noting that nearly 42% of the country's exports go to the European Union, making it the bloc's fifth-largest trading partner.
"The dialogue is in the interest of both parties, and economic integration within the European Union will be better achieved through Türkiye's strong integration," Şimşek wrote on social media platform X.
"We are ready for stronger and more strategic cooperation with the European Union."
For decades, Türkiye and the bloc have enjoyed good trade ties and cooperation on migration. However, relations have been strained over multiple issues, including the prolonged process of modernization and expansion of the scope of the current customs union agreement, maritime issues with Greece and Greek Cyprus, and EU policies on Syrian refugees.
Recently, Türkiye emerged as a key potential partner in restructuring European security, according to diplomats and analysts, as Europe scrambles to bolster its defense and find guarantees for Ukraine under any forthcoming cease-fire deal urged by the United States.
President Recep Tayyip Erdoğan and Foreign Minister Hakan Fidan have said Europe must include Türkiye in the restructuring of its security architecture in a "sustainable and deterrent" way.
The Türkiye-EU High-Level Economic Dialogue was first established at a summit in late 2015 to foster dialogue on economic matters.
Since then, three meetings have taken place – in 2016, 2017 and 2019. Türkiye hosted the first and third meetings, and Brussels hosted the second.
The decision to revive the dialogue was made at the EU General Affairs Council meeting last December and later approved at an EU heads of state and government summit.
The meeting aims to accelerate economic collaboration and expand areas of mutual interest. The event will be divided into two main sessions. The first will feature ministerial-level discussions on the macroeconomic outlook, competitiveness and structural reforms.
The second session will bring together top executives from leading Turkish and EU businesses, as well as financial institutions such as the European Investment Bank and the European Bank for Reconstruction and Development (EBRD), to explore investment and trade opportunities.
Şimşek on Wednesday reiterated the need for an update to the Türkiye-EU Customs Union, citing challenges such as protectionism and developments around e-commerce, digitalization and green transformation.
Officials insist that its modernization would comprehensively shake up economic relations between the sides.
A host of disagreements over recent years have stalled the negotiations for updating the deal. The deeper 1990s-era agreement would be expanded to services, farm goods and public procurement.
Türkiye is the only non-EU country that has a customs union deal with the bloc. The agreement was struck in 1995. In its Dec. 21, 2016, assessment, the European Commission proposed revamping the deal.
The current customs union agreement only covers a limited range of industrial products.
"With our strengths across defense, energy, agriculture and manufacturing, we are ready for deeper and more multidimensional cooperation with the EU," said Şimşek.
He also called for smoother visa processes for businesspeople and students, as well as expanded joint projects in third countries.
The business community has been increasingly exasperated by the bureaucratic hurdles involved in securing Schengen visas – a system that was once considered routine but has now turned into an obstacle for many.
Lengthy processing times and a growing number of EU visa rejections in recent years turned into a row that has been straining already sensitive relations.
Ankara has called the efforts "deliberate," while officials from both sides have sought ways to engage in dialogue to resolve the matter.
