Updating the nearly three-decade-old customs union, joining the "Made in EU" framework, and securing participation in the Single Euro Payments Area (SEPA) would significantly strengthen Türkiye's economic integration with the European Union, the head of the country's exporters said Monday.
"If the customs union revision, the work related to 'Made in EU' and participation in this payment system (SEPA) are achieved together, we would reach a completely different position from where we are today," Mustafa Gültepe, chair of the Türkiye Exporters Assembly (TIM), said.
Türkiye and the EU have been holding talks about the EU's 41-country Single Euro Payments Area, which makes cross-border euro-currency payments cheaper, faster and more secure.
Earlier this month, Ankara said it had sent a letter of intent to join the system.
Gültepe said the move would significantly simplify payments between Turkish companies and European partners.
