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Ankara Calls for Unconditional Start of Customs Union Talks with EU

TURKEY
  • Hurriyet report that Turkey has called on the EU to unconditionally start talks for the modernisation of the customs union while expressing its discomfort regarding the postponement of the approval of a key report that draws a road map for the future ties between Ankara and Brussels at the latest EU Council summit. “We are expecting the start of technical talks for the modernisation of the customs union… and we want the EU Council to give necessary authorisation to the European Commission to this end,” diplomatic sources told Hurriyet.
  • The Turkish passenger car and light commercial vehicle market, which broke a record by exceeding 1 million unit sales in 2023, is expected to shrink by about 30-35% in 2024 and retreat to 2020 levels, Hurriyet report.
  • President Erdogan has returned back to Ankara following a visit to Budapest yesterday where he met with Hungarian Prime Minister Orban. The pair discussed ways to boost bilateral trade volume to $6 billion, natural gas agreements, as well as global problems.
  • There are no data major releases scheduled for today. The CBRT rate decision is the highlight of the week on Thursday where a 250bp rate hike is expected.
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