Abstract:

With globalization, cross-border transition has increased and the liberalization of trade has become inevitable. This liberation has also prepared the ground for many transnational formations. One of these formations is the Eurasian Economic Union, established under the leadership of Russia, Kazakhstan and Belarus. Considering the geographical location of the need, the cultural factors and economic interests, the importance of the Eurasian Economic Union for Turkey is great. The aim of the study is to promote the Eurasian Economic Union and question the importance of the Union in the diversification of foreign trade in Turkey. In line with this objective, the two-sided external trade data between the Union member countries and Turkey for the period 2010-2019 are analyzed using export and import growth rates (CGR), bilateral trade concentration index (BT), sectoral-bilateral trade concentration index (SBT) and trade complementarity index (TCI). SITC Rev3 2 digit data is used in sector analysis. The findings are evaluated in terms of foreign trade policy and the conclusion is that Turkey, which is legally impossible to be a member of the AEB, can be beneficial in terms of the diversification of foreign trade by making preferred trade agreements with the Member States to cover certain products and product groups.

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