There has been an important step taken recently on the
betterment of Turkey's status and position at the Customs
Union, which is between Turkey and the EU, and Transatlantic Trade
Investment Partnership ("TTIP"). Nihat Zeybekci,
the minister of economy of Turkey, and Cecilia Malmström, the
European Commissioner for Trade, have come together in Brussels on
May 12, 2015 and signed a memorandum of understanding
("MoU") to amend the Customs Union
Agreement1 that has been signed between Turkey and the
EU on December 31, 1995 to conform with TTIP. The MoU covers
certain significant titles such as i) agriculture, services and
public procurement, ii) Turkey's taken a part in the position
of decision making process, iii) decrease of quota in land
transportation etc. Nevertheless, the most critical
section of the MoU is the part about Turkey's being included in
the TTIP. As the EU is one of the two parties of the TTIP, EU's
support to Turkey for being a part of TTIP is very crucial. The MoU
will take effect on January 1, 2016 and until such date and then,
Turkey has been promised by EU to get informed of the every step
and progress of the negotiations between the US and EU about
In our article titled
Economical Impacts of TTIP on the US, EU and
Turkey2 which was published on Mondaq on
February 20, 2015, we already underlined the relation between the
Customs Union Agreement and TTIP. With the recent progress made,
the timing of the publication of our article on TTIP, has become
much more meaningful.
On 7 October 2016 OFAC issued an update to its "Frequently Asked Questions Relating to the Lifting of Certain U.S. Sanctions Under the Joint Comprehensive Plan of Action (JCPOA) on Implementation Day".
Tightened monetary policies leading to limited capital inflow to the securities market, its low liquidity and significant decrease in stock price partly contribute to the low attractiveness of Vietnam's stock exchange.
Unbelievably, the calendar has somehow advanced to September, the month in which we celebrate National Day. For families, it also marks the end of the summer holiday season and the start of the new academic year.
Once the government notifies the European Council that the UK has decided to leave the EU, the two-year period for the negotiation for exit under Article 50 of the Treaty of the European Union will start.
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