TODAY’S – TuSIAD: Turkey should be observer in TTIP process

TuSIAD: Turkey should be observer in TTIP processTurkish Industrialists and Businessmenand#39s Association (TuSIAD) President Haluk Diner said that Turkey should have an observer role in the Transatlantic Trade and Investment Partnership (TTIP) process between the European Union and the United States, while speaking in Brussels on Thursday.Diner said both the business world and the government in Turkey saw the TTIP as a potential threat as long as Turkey wasnand#39t involved.

andldquoSince Turkey is not a EU country it is outside the process, but it has requested observer status. With such a status [Turkey] would listen at the table during the agreement process without intervening,andrdquo said Diner, adding that the request met with a positive response.

He also said that afterward, Turkey would be able to pursue participation in the TTIP as a third party.andldquoThe EU definitely does not want to lose Turkey,andrdquo said DinerThe US Chamber of Commerce, the worldand#39s largest business federation, opened an office in Istanbul last month as part of plans to andldquoaid regional efforts and help enhance the work of the US-Turkey Business Council,andrdquo the chamber said.

The Istanbul office is the chamberand#39s second overseas office after Brussels. Talks for the TTIP, which started in July 2013 between the US and the European Union to facilitate free trade, are still under way.

US Chamber of Commerce executive vice president and head of international affairs Myron Brilliant and Turkish Union of Chambers and Commodity Exchanges (TOBB) President Rifat HisarcIklIoIlu signed a memorandum of understanding (MoU) in an official ceremony on Tuesday.Speaking on the sidelines of the event, HisarcIklIoIlu said the chamberand#39s Istanbul office should facilitate Turkish efforts to be covered by the TTIP.

Ankara fears it could lose as much as $3 billion in trade if the TTIP excludes Turkey.

SOURCE: Today’s Zaman