Türkiye’s financial reform time table and disinflation procedure are essential for the rustic’s financial resilience, Eu Commissioner for the Economic system Valdis Dombrovskis mentioned Friday.
Talking at a press roundtable in Istanbul hosted through the Turkish Business and Industry Affiliation (TUSIAD), Dombrovskis mentioned their talks targeted at the financial outlook, geopolitical turbulence, and steps to fortify resilience and competitiveness.
“Looking at the economic situation and current geopolitical turbulence we are experiencing, we discussed policy responses to strengthen the resilience and competitiveness of our respective economies,” he mentioned.
“In this regard, the Turkish government’s economic reform agenda and disinflation process are certainly important for the resilience of the Turkish economy,” he added.
Dombrovskis mentioned the EU’s competitiveness time table, together with simplification and lowering administrative burdens, was once additionally mentioned.
He mentioned the 2 facets reviewed techniques to deepen EU-Türkiye financial cooperation and welcomed Türkiye’s software to sign up for the Unmarried Euro Bills Space, or SEPA.
“The Customs Union is forming the basis for our economic engagement,” he mentioned.
On Customs Union modernization, Dombrovskis mentioned the Eu Fee wishes a mandate from EU member states to start negotiations, which calls for unanimity.
“That is not the case at the current stage,” he mentioned, including that the fee had asked the sort of mandate.
He famous that the Customs Union’s criminal foundation was once closing up to date in 1997.
“The world has moved on since then,” he mentioned, including that present paintings specializes in a extra restricted and focused technical replace reasonably than broad-based modernization.
Dombrovskis additionally mentioned Turkish items’ get right of entry to to business accelerator actions, public strengthen, and public procurement had been mentioned, underlining the significance of reciprocity.
Relating to Türkiye’s public procurement steps, he mentioned Treasury and Finance Minister Mehmet Şimşek had submitted draft law to parliament to verify reciprocal get right of entry to.
“They are on track,” he mentioned.
The EU is Türkiye’s biggest industry spouse and largest investor.
As of 2025, 42.8% of Türkiye’s exports went to EU international locations, whilst 31.7% of its imports got here from the bloc.
General industry quantity between Türkiye and the EU reached a report €218 billion ($249.7 billion) in 2025, whilst Türkiye remained the EU’s fifth-largest buying and selling spouse outdoor the bloc.
EU international locations supplied €5.34 billion in international direct funding to Türkiye in 2025, accounting for 66% of overall international funding inflows.
