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EURASIA NEWS

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Europe is still Turkey’s major economic partner. According to 2015 data from the Turkish Statistics Institute, EU countries absorbed 44.4 percent of Turkey’s annual exports, and when the non-EU countries are included the share of Europe in Turkey’s exports rises to 54.3 percent. In contrast, SCO countries are sources of imports for Turkey, with Russia and China alone accounting for 21.8 percent of Turkey’s imports. Greater engagement with or even full membership in SCO will not lead to a reversal of this picture; Europe will not lose its status as the main export destination partner over night. Trade with Europe is the lifeline of Turkish economy, but SCO can offer other advantages for Turkey, most importantly as a formal, institutional base through which Turkey can improve its relations with member countries at the bilateral level, and become an integral part of the newly emerging economic structure in the Eurasian continent.

News from Turkey, Turkish news, EU news, Eurasia news, Geopolitical news from Asia

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