The EEC-Turkey Association Agreement aims to strengthen the economic and political relations between the European Economic Community (EEC) and Turkey. This agreement was signed in 1963 and entered into force in 1964. It was later supplemented by the Additional Protocol signed in 1970.
The EEC-Turkey Association Agreement was the first step towards Turkey`s eventual accession to the European Union (EU). The agreement established a customs union between Turkey and the EEC, which aimed to remove all tariffs and trade barriers between the parties. The agreement also provided for the free movement of goods, services, and capital between Turkey and the EEC.
The EEC-Turkey Association Agreement was an essential instrument in Turkey`s economic development. In the early years of the agreement, Turkey`s economy grew rapidly, with exports to the EEC increasing significantly. The agreement also facilitated the transfer of technology and know-how from the EEC to Turkey.
In 1995, the customs union was extended to cover agricultural products, and this helped to boost Turkey`s agricultural sector. The customs union also led to increased foreign direct investment in Turkey, particularly in the manufacturing sector.
In recent years, Turkey`s relationship with the EU has become more complicated. Despite Turkey`s progress towards meeting the EU`s accession criteria, the accession process has stalled, with several chapters of the negotiations suspended. Turkey`s political situation has also been a source of concern for the EU, particularly regarding the rule of law and human rights.
The EEC-Turkey Association Agreement remains in force, but it is not without its challenges. Turkey still faces a significant trade deficit with the EU, and the country`s economic growth has slowed down in recent years. The political situation has also led to increased uncertainty and volatility in the economy.
In conclusion, the EEC-Turkey Association Agreement has been an essential instrument in Turkey`s economic development and its relationship with the EU. However, the challenges that Turkey faces today highlight the need for continued cooperation and dialogue between Turkey and the EU. The future of the EEC-Turkey Association Agreement remains uncertain, but its legacy can be seen in the economic and political ties that exist between Turkey and the EU today.