The free trade agreement between the EFTA states and Turkey, which came into force on 1 April 1992, primarily contains provisions on the movement of goods (in particular the reduction of customs duties and other trade restrictions) and the protection of intellectual property rights. The ongoing talks relate to an expansion of the current free trade agreement to include substantial additional commitments related to the trade in services, investments and public procurement.
Against this backdrop, the members of the EFTA Parliamentary Committee, headed by Kathy Riklin (CVP/ZH), will discuss the potential for closer economic relations with Turkey, with the aim of securing access for business people from the EFTA region to the rapidly growing Turkish market that is as stable and free of obstacles and discrimination as possible.
Turkey has a large population (over 77 million, half of whom are under 25 years of age) and in recent decades has experienced rapid economic development. It is an important and expanding market on Europe’s doorstep which is expected to continue growing.
Bilateral trade between EFTA and Turkey has increased steadily since 2001 and reached USD 5.2 billion in 2013, when EFTA’s main exports to Turkey were pharmaceutical products, machinery, mineral/fuel oil, chemical fertilisers and fish. Imports from Turkey consisted mainly of apparel articles and accessories, and vehicles.
Bern, 12 January 2015 Parliamentary Services