The High-Level Economic Dialogue (HLED), established between Turkey and the EU in 2015, brought Turkish and European business circles together with the decision-makers for the third time on 28 February 2019 at the Presidential Office in Dolmabahçe Palace, Istanbul. The event was hosted by Finance and Treasury Minister, Berat Albayrak. While Trade Minister, Ruhsar Pekcan, and Transport and Infrastructure Minister, Mehmet Cahit, represented the Turkish public sector, European Commission’s Vice President for Jobs, Growth, Investment and Competitiveness, Jyrki Katainen, and European Commissioner for Transport, Violeta Bulc, attended the HLED representing the EU.

During the meeting co-chaired by Finance and Treasury Minister Albayrak, and Commission’s Vice President Katainen, the financing project of the Halkalı- Kapıkule Railway Line, for which the EU will provide 275 million euro in grants, was signed. The signature has given the start to the largest EU investment project which will be carried out in Turkey.

The following organisations representing the business community have participated in the meeting alongside IKV: Union of Chambers and Commodity Exchanges of Turkey (TOBB), EUROCHAMBRES, Turkish Industry and Business Association (TUSIAD), BusinessEurope, Turkish Confederation of Employers Associations (TISK), SME United, Independent Industrialists' and Businessmen's Association (MUSIAD), Foreign Economic Relations Board of Turkey (DEIK), Confederation of Turkish Tradesmen and Craftsmen (TESK), International Investors Association (YASED), Women Entrepreneurs Association of Turkey (KAGIDER). Representatives from the European Investment Bank (EIB), European Bank for Reconstruction and Development (EBRD) and Council of Europe Development Bank (CEB) were also present in the meeting.

In the meeting, both sides agreed on the importance of maintaining dialogue, communication, cooperation, as well as business initiatives between Turkey and the EU. Moreover, European leaders, while referring to the significance of bilateral trade and investment relations, expressed their expectations from Turkey to improve the state of democracy, human rights, fundamental freedoms and role of law in the country, which are requirements of the Copenhagen criteria. On the other hand, Turkey has criticised the impasse in the modernisation process of the Turkey-EU Customs Union because of political reasons. Furthermore, Turkey’s objective to complete the visa liberalisation process alongside with revitalising the accession process was reiterated.

During the meeting, IKV Chairman Ayhan Zeytinoğlu, called for the opening of Chapters 23 and 24, on the judiciary and fundamental rights and justice, freedom and security as a tool to strengthen the relations between Turkey and EU which have been stagnating since 2016. Reminding Turkey’s good alignment level on chapters that had been opened and sectors related to the Customs Union, IKV Chairman stated that besides accession negotiations, the modernisation of the Customs Union would accelerate the economic cooperation between European and Turkish stakeholders.

IKV Chairman Zeytinoğlu referred to the visa liberalisation process and stated that Turkish citizens were obliged to pay approximatively 300 million euro in the last 5 years for visa application. He added that if the cost of additional costs, such as the transportation costs and notary fees, is also taken into account the total amount would reach 500 million euros. IKV Chairman Zeytinoğlu talked about the positive impact visa liberalisation could make on Turkey-EU relations. He indicated that Turkey has met 67 of 72 criteria laid out in the visa liberalisation roadmap and encouraged the acceleration of the fulfilment of the remaining criteria in order to re-energise the accession process.