The EEA Agreement Turkey: What You Need to Know
The European Economic Area (EEA) Agreement is a treaty between the member states of the European Union (EU) and three of the four member countries of the European Free Trade Association (EFTA). The agreement provides for the free movement of goods, services, people, and capital within the EEA. In exchange, EEA countries must comply with EU rules in most areas of economic activity.
However, Turkey is not a member of the EU or EFTA. While Turkey has a Customs Union agreement with the EU, it is not a member of the EEA. Therefore, it is not part of the single market, and does not benefit from the free movement of goods, services, people, and capital in the same way as EEA countries.
Despite this, Turkey has expressed interest in becoming a member of the EEA. In 2016, the Turkish government submitted an application to become a member of the EEA. However, the application has not yet been approved, and it is unclear when or if Turkey will become a member of the EEA.
The EEA Agreement has numerous benefits for its members. For example, EEA countries have access to the single market, which is the largest market in the world. This allows businesses to trade freely across borders, increasing competition and reducing prices for consumers. EEA countries also benefit from the free movement of people, which allows citizens to work, study, and live in any EEA country without the need for a visa or work permit.
If Turkey were to become a member of the EEA, it would likely see significant benefits to its economy. For example, Turkish businesses would have access to the single market, which would increase their customer base and allow them to expand their operations. Turkish citizens would also be able to work, study, and live in any EEA country without the need for a visa or work permit, increasing opportunities for education and employment.
However, there are also potential downsides to Turkey becoming a member of the EEA. For example, Turkish businesses may face increased competition from other EEA countries, which could lead to job losses and lower wages. Additionally, Turkish citizens may face increased competition for jobs in other EEA countries, which could lead to a brain drain as highly educated and skilled workers leave Turkey for better opportunities elsewhere.
In conclusion, the EEA Agreement Turkey is not currently a member of the EEA, but has expressed interest in becoming one. If Turkey were to become a member of the EEA, it would likely see significant benefits to its economy, but there are also potential downsides to consider. As with any major economic decision, it is important to weigh the pros and cons carefully before making a final decision.