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tr44Turkey faces EU automotive export threat as it seeks defense industry partnership
Turkey is pursuing deeper defense industry ties with the EU through NATO, but a new EU 'Industrial Acceleration Act' threatens its crucial automotive export sector. The act's 'Made in EU' label and localization requirements could restrict Turkey's $40 billion annual automotive exports, despite a proposed flexibility clause. Turkish industrialists are lobbying for inclusion, but face political hurdles related to rule of law and the Cyprus issue. The issue is expected to be raised by President Erdogan at the NATO summit.
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Turkey faces EU automotive export threat as it seeks defense industry partnership
Turkey is pursuing deeper defense industry ties with the EU through NATO, but a new EU 'Industrial Acceleration Act' threatens its crucial automotive export sector. The act's 'Made in EU' label and localization requirements could restrict Turkey's $40 billion annual automotive exports, despite a proposed flexibility clause. Turkish industrialists are lobbying for inclusion, but face political hurdles related to rule of law and the Cyprus issue. The issue is expected to be raised by President Erdogan at the NATO summit.
Turkey is pursuing deeper defense industry ties with the EU through NATO, but a new EU 'Industrial Acceleration Act' threatens its crucial automotive export sector. The act's 'Made in EU' label and localization requirements could restrict Turkey's $40 billion annual automotive exports, despite a proposed flexibility clause. Turkish industrialists are lobbying for inclusion, but face political hurdles related to rule of law and the Cyprus issue. The issue is expected to be raised by President Erdogan at the NATO summit.