'Türkiye key to EU’s strength in Trump’s 2nd term'

Türkiye will bolster Europe's position against various threats, particularly with the update of the Customs Union during U.S. President-elect Donald Trump's second term, as Europe's strategic environment is expected to face challenges, says Markus Slevogt, president of the European Turkish Trade and Investment Council (ETTIC).

Speaking to state-run Anadolu Agency, Slevogt said the council will engage with European Union member states and representatives to advance the Customs Union update between Türkiye and the EU while improving communication regarding business, trade and investments.

Highlighting the significant trade relationship, he noted that over $231.4 billion in annual bilateral trade occurs between Türkiye and the EU, with European businesses investing more than $210.4 billion in Türkiye between 2002 and 2023.

Slevogt pointed out that the existing Customs Union draft, created in 1996, no longer addresses modern needs. It excludes critical areas such as e-commerce, services, agriculture, and public procurement, necessitating an update to align with 21st-century requirements.

He said the European Commission's new five-year term presents opportunities for progress.

Slevogt added that the ETTIC will embrace a fresh approach with the new term, focusing on advancing the Customs Union update between Türkiye and the EU.

He underscored that Trump's policy agenda could strain trade relations, compelling Europe to explore new opportunities in energy and rethink its business model. In this context, Türkiye's strategic location, industrial capacity, and connectivity to European markets position it as a pivotal player.

Slevogt said that updating the Customs Union will significantly benefit Europe in addressing threats.<...