Abstract:

The European Union and the United States of America continue talks regarding the Transatlantic Trade and Investment Partnership (TTIP), which aims at partnership in trade and investment. The partnership is regarded as an impetus to trigger global dynamics  that will increase trade between the two parties. In case of successful completion of the process, the impact of the partnership will be more than just elimination of trade barriers between the two biggest economic blocks in the world. Its impact will extend beyond the two sides of the Atlantic. While Turkey remains outside of the process because it is not a full member of the EU, the Partnership will affect Turkey due to the fact that Turkey has been part of the European Customs Union since 1996. Like any agreement the EU enters with another country, this partnership will deepen the negative impacts of the Treaty of Customs Union on Turkey’s foreign trade too. Hence, while global and regional consequences of this partnership is vehemently discussed in European countries, similar discussions are needed in Turkey as well. 

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