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What are the advantages of Turkey joining the EU?

What are the advantages of Turkey joining the EU?

Turkey has taken advantage of a customs union with the European Union, signed in 1995, to increase its industrial production destined for exports, while at the same time benefiting from EU-origin foreign investment into the country.

How much money does Turkey receive from the EU?

Turkey receives payments from the EU budget as pre-accession support, currently 4.5 billion allocated for the 2014-2020 period (about 740 million Euros per year).

What are the benefits of EU membership?

General Advantages

  • Membership in a community of stability, democracy, security and prosperity;
  • Stimulus to GDP growth, more jobs, higher wages and pensions;
  • Growing internal market and domestic demand;
  • Free movement of labour, goods, services and capital;
  • Free access to 450 million consumers.

Free trade between EU countries is one of the bloc’s greatest advantages and granting Turkey membership would create a whole new market for European goods. However, others point to the recent economic crisis in Greece and warn that Turkey is not yet rich enough to join, saying that taxpayers in wealthier countries would be forced to subsidise it.

What are the benefits of being a member of the EU?

So, Turkey would most likely gain more favourable trade pathways as a member than they might as an independent nation.

Why is Turkey a good country for Europe?

Turkey’s geographic position at the crossroads between Europe and the East allows it to provide a much-needed bridge between western and Islamic worlds at a time of heightened tensions between the two. Many argue that Turkey is better equipped to mediate in the Middle East than European countries.

Why did Turkey not join the customs union?

They preferred to compensate the losses of the Customs Union with the benefits of the EU membership. But Turkey has joined the Customs Union without taking a cent. It has come to where it is today by making structural changes that can compete with industrial giants.