AI Summary & Key Takeaways
AI InsightLike agreements that EU has made with other countries, EU-Canada Comprehensive Economic and Trade Agreement is going to deepen the negative effects of Customs Union Agreement on foreign trade of Turkey.
📌 3 Key Takeaways
Abstract
Purpose-Comprehensive Economic and Trade Agreement, CETA that European Union signed with Canada on November 30, 2016 has the quality to result in economic, social and cultural consequences by making norms as compatible not only by removing tariff barriers differently from formers. It has been expected that agreement which removes tariff barriers at the rate of 99% increases the trade between each two countries at the rate of 23%. In addition to this, consequences that cause some concerns in terms of Turkey that is still candidate country to EU are possible. Turkey had stayed out of negotiation period of CETA as is the case with meetings of Transatlantic Trade and Investment Partnership (TTIP) that EU started negotiations with USA. On the other way, Turkey has been affected by CETA because of applying Customs Union Agreement with EU since 1996. Like agreements that EU has made with other countries, EU-Canada Comprehensive Economic and Trade Agreement is going to deepen the negative effects of Customs Union Agreement on foreign trade of Turkey.Methodolgy- In this study, Comprehensive Economic and Trade Agreement, CETA, had been discussed in the view of basic indicators subjecting to foreign trade. Possible effects of CETA had been analyzed on Turkey economy because of that Turkey participate in European Customs Union.Findings-It had been seen that first of effects of Comprehensive Economic and Trade Agreement on Turkey economy had consisted of two sections as particular to CETA and TTIP. Conclusion-Turkey has been affected by CETA because it was applying Customs Union Agreement with EU since 1996. Like agreements that EU has made with other countries, EU-Canada Comprehensive Economic and Trade Agreement is going to deepen the negative effects of Customs Union Agreement on foreign trade of Turkey.