The Agreement Creating An Association Between The Republic of Turkey and the European Economic Community, commonly known as the Ankara Agreement (Turkish: Ankara Anlaşması), is a treaty signed in 1963 that provides for the framework for the co-operation between Turkey and the European Union (EU).
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👉 Ankara Agreement in the context of Economy of Turkey
Turkey has an emerging free-market economy. It ranked as the 16th-largest in the world and 7th-largest in Europe by nominal GDP in 2025. It also ranked as the 11th-largest in the world and 5th-largest in Europe by PPP in 2025. Turkey's rapid economic growth since the 2000s was stranded by the economic crisis in 2018, but it began to recover in 2021. Turkey's USD-based nominal GDP per capita and GDP-PPP per capita have eventually reached their all-time peak values in 2024.
Turkey is a founding member of the OECD and G20. Ratified in 1995, the European Union–Turkey Customs Union has established a free trade area between Turkey and the European Union, which has increased bilateral foreign trade, investment and economic activity.
In this Dossier
Ankara Agreement in the context of European Union–Turkey Customs Union
The European Union–Turkey Customs Union is a trade agreement between the European Union (EU) and Turkey. The agreement came into effect on 31 December 1995, following a 6 March 1995 decision of the European Community–Turkey Association Council to implement a customs union (Turkish: Gümrük Birliği) between the two parties. Goods may travel between the two entities without any customs restrictions. The Customs Union does not cover essential economic areas such as agriculture (to which bilateral trade concessions apply), services or public procurement.
In 1996, a free trade area was established between Turkey and the European Union for products covered by the European Coal and Steel Community. Decision 1/98 of the Association Council covers trade in agricultural products.
Ankara Agreement in the context of Accession of Turkey to the European Union
Turkey is negotiating its accession to the European Union (EU) as a member state, following its application to become a full member of the European Economic Community (EEC), the predecessor of the EU, on 14 April 1987.
After the ten founding members in 1949, Turkey became one of the first new members (the 13th member) of the Council of Europe in 1950. The country became an associate member of the European Economic Community (EEC) in 1963 and was an associate member of the Western European Union from 1992 to its end in 2011. Turkey signed a Customs Union agreement with the EU in 1995 and was officially recognised as a candidate for full membership on 12 December 1999, at the Helsinki summit of the European Council.