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Turkish Exports Hit Record Highs As EU Signals It's Ready to Restart Key Trade Discussions
As the year comes to a close, Turkish exports are continuing to gain steam. The country posted record figures for November, the fifth month in a row it crossed previous highs. That brings this year's 11-month total to nearly 232 billion dollars. The positive numbers helped Turkiye reduce its trade deficit, which fell around 32% year-on-year. Those record trade figures came despite the February 6 earthquakes that some estimates say cost the country about 6 billion dollars in exports.
The European Union was the biggest market for Turkish goods, comprising nearly 39% of last month's exports, with Germany taking the largest share. And those numbers could get a boost if a recent report by the European Commission is carried out. Some of the proposed measures include restarting several high-level trade talks, including discussions on modernizing the decades old EU-Turkiye Customs Union. The commission also covered easing visa restrictions on Turkish business travellers and students. But will that be enough to put to rest, long-running disputes over trade, and the movement of goods and people?
Guests:
Aylin Unver Noi
Associate Professor at Halic University
Ozan Ozkural
Managing Partner of Tanto Capital Partners
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