ISTANBUL
The Turkish economy minister, Nihat Zeybekci, said Monday that talks addressing Turkey's concerns over a trade deal between the U.S. and the European Union had been positive.
Turkey has repeatedly voiced its concerns, as a longtime signatory of a customs deal with the EU, over the Transatlantic Trade and Investment Partnership, or TTIP, which aims to favor free trade with the U.S.
"The negotiations over involving Turkey into the talks are going on positively," said the minister, in his speech at a business forum between the UK and Turkey.
UK Trade and Investment minister, Ian Livingston, said that his country was eager to ease Turkey's worries, speaking on the sidelines of the forum following a joint economic committee meeting.
"(The) UK remains very supportive for the accession process of Turkey’s to the EU and finding ways to ensure Turkey’s concerns regarding TTIP," said Livingston.
Turkey has been a party to a customs union with the EU since 1995, allowing goods into its borders. But because Turkey is not an EU member, it is excluded from the TTIP talks.
Turkish officials argue that future free trade agreements signed by the EU with other countries, such as the U.S., would effectively open Turkey’s market to exports from these states. But it would also block Turkish exports from benefiting from tax advantages in those same states, should Ankara not be a party to the free trade deals negotiated by the EU.
The minister warned it would be "unsustainable," if Turkey is not included in the agreement simultaneously, Zeybekci warned.
The UK is the second largest direct investor in Turkey, as some 2,800 British companies operate in the country, said the minister, adding it was also Turkey's third biggest trade partner.
