Eu Turkey Mutual Recognition Agreement

The European Union (EU) and Turkey have signed a mutual recognition agreement (MRA) that aims to increase the efficiency of trade between the two sides. The agreement was signed in December 2020 and went into effect on 1st March 2021. The MRA will help to boost the Turkish economy by simplifying trade with the EU, the country`s largest trading partner.

The MRA allows for the mutual recognition of conformity assessment procedures between the EU and Turkey. This means that products that meet the standards set by one side will be accepted in the other without the need for additional testing or certification. The agreement covers a wide range of industrial sectors, including machinery, electrical and electronic equipment, medical devices, toys, and construction products.

The MRA will contribute to reducing technical barriers to trade by facilitating access to the market for products from Turkey and the EU. This will increase competition and provide benefits to consumers by promoting lower prices and better choice. The agreement will also strengthen the economic ties between the two sides and increase the flow of goods, services, and investments.

The MRA will help to establish closer cooperation between Turkey and the EU by providing a framework for dialogue and exchange of information on conformity assessment procedures. This will enable both sides to establish better regulatory cooperation and promote good regulatory practices. The agreement will also help to strengthen the multilateral trading system by promoting international standards and conformity assessment procedures.

The MRA will have a positive impact on the Turkish economy by increasing trade and investment with the EU. The agreement will also help to improve the competitiveness of Turkish companies by reducing the cost and time of exporting to the EU. This will provide significant advantages for Turkish businesses, particularly small and medium-sized enterprises (SMEs), which account for the majority of Turkish exports to the EU.

In conclusion, the EU-Turkey Mutual Recognition Agreement is a significant achievement that will promote trade, strengthen economic ties, and establish closer cooperation between the EU and Turkey. The agreement will help to reduce technical barriers to trade, increase competition and provide benefits to consumers by promoting lower prices and better choice. It will also help to improve the competitiveness of Turkish businesses and support the country`s economic growth.