The European Union and Turkey Economic Relations

Turkey has always cared about economic development and struggled to become a member of the European Union (EU). To ensure its economic, political, military, social and cultural development, it applied to join the European Economic Community (EEC), known as the greatest peace project, on 31 July 1959, moreover for full membership of the EEC on April 14, 1987. Throughout the process, Customs Union between Turkey and the EU was put into effect on January 1, 1996, which marks "the Final Phase" of Turkey-EU relationship. The turning point for Turkey-EU relationship was the Helsinki European Council of EU Member States and Presidents. At the Helsinki Summit, Turkey's candidacy was officially confirmed and it was clearly expressed that it would hold the same status as the other candidate countries. The first Accession Partnership Document for Turkey was published by the EU Council on March 8, 2001. Turkey's successful stance against the global crisis is closely monitored by the EU and the world. Turkey, exerting efforts to increase foreign investments, has opted for facilitating some bureaucratic procedures to take its relation with the EU one step further. Council of the European Union which gathered on December 2002 resolved to discuss Turkey's request to start the negotiations of full membership at the December 2004 meeting of the Council. This resolution would delay Turkey's full membership. However, launching full membership negotiations between Turkey and the EU is closely related to the improvement of economic relations between them.