After an over half century accession bid, Turkey and the European Union are moving into a new period of relations where tighter cooperation in specific areas will be prioritized over Ankara’s drive for full membership, analysts say. Ties between Turkey and the EU reached a low point in 2017 with the membership process grinding to a halt and President Recep Tayyip Erdogan accusing some key members, including Germany, of behavior reminiscent of the Nazis. But Erdogan has begun 2018 in a different spirit, bounding off in the first week of January on a visit to Paris and his foreign minister making a key fence-mending trip to Germany. Meanwhile, EU leaders have urged a new spirit of realism, with French President Emmanuel Macron saying during Erdogan’s January 5 trip it was time to end the “hypocrisy” that progress could be made on Turkish membership. “There is an understanding on both sides that the accession process is dead and won’t go anywhere soon,” said Asli Aydintasbas, a fellow at the European Council on Foreign Relations (ECFR). “So we are essentially talking about a new format and a more transactional relationship with European member states,” she told AFP, adding this would mean more emphasis on trade. “Ankara sees this as such and entertains no illusions about revitalizing the accession process,” she added. ‘Downsizing the relationship’ The July 2016 failed coup marked a watershed moment in the history of Turkey-EU relations, with Ankara accusing the bloc of failing to show solidarity and Brussels sounding… [Read full story]
It is too early to declare the TPP dead but it is definitely on life support, according to Emeritus Professor Carl Thayer from the Australian Defense Force Academy.US President-elect Donald Trump announced on November 21 that the US will withdraw from the TPP on the first day of his presidency and instead pursue free trade agreements (FTAs) on a bilateral basis.The bottom line, according to Professor Thayer, is that the TPP Vietnam signed but not yet ratified is unlikely to be ratified by the US in its present form. Six of the eleven TPP signatories already have FTAs with the…... [read more]
With a deal secured to help keep Britain in the European Union, German Chancellor Angela Merkel swiftly refocused her sights on pressing ahead with a joint EU solution to the bloc's refugee crisis in tandem with Turkey. Along with the deal for Britain, tackling Europe's migrant crisis in collaboration with Turkey was a top priority for Merkel at a two-day EU summit in Brussels that ended late on Friday. Germany took in over one million migrants last year, many of them fleeing war in Syria and Iraq, and has led efforts to offer money and promises to revive Turkey's long-stalled…... [read more]
Exciting times: Izmir Clock Tower, the symbol of Izmir City and arguably its most famous site. — Photo courtesy of Turkish Embassy Today, Turks at home and around the world are celebrating the 90th anniversary of their Republic with joy and pride. The new state, established by Mustafa Kemal Ataturk under difficult circumstances in the aftermath of the Turkish War of Independence, now stands as a stable democracy with a strong and vibrant economy. Over the past nine decades, Turkey has achieved ever higher standards in fields such as education, science, technology and health. Cultural life is thriving with more…... [read more]
The Q2 BCI survey reached 77 points. As many as 56.3 percent of EU companies indicated Vietnam’s macroeconomic stability and improvement, while 9.4 percent forecasted deterioration. Optimism on the business situation in the second quarter ranked high among EU companies (66.7 percent) while only 12.5 percent worried about not good or very poor situation. They also expected lighting business prospects in the third quarter, with 9.4 percent and 54.2 percent of the respondents addressing very good and good situation, respectively. Around 49 percent of EU companies forecasted the number of orders or revenues to increase slightly in the next quarter,…... [read more]
Toyota could reconsider investing up to $609 million in Thailand, and could even cut production Photo: Duc Thanh Yasuzumi Hirotaka, chief representative of Japan External Trade Organisation’s (JETRO) office in Ho Chi Minh City, said increasing numbers of Japanese companies in Thailand had adopted the strategy to avert the risk of concentrating their production in one country. The strategy means Japanese companies will shift part of production from Thailand to other Southeast Asian nations to take the advantage of political stability and lower labour costs. “This is a chance for Vietnam to lure investment from Thailand,” said Hirotaka. “When seeking…... [read more]
