WTO Issues Trade Policy Review of Turkey
The Trade Policy Review Body of the World Trade Organization (WTO) has recently issued its third Trade Policy Review (TPR) of Turkey. The TPR states that Turkey’s economic reforms could be strengthened by continued structural adjustment, including privatization, and by the improvement of its multilateral commitments, both in goods and services. The report notes that such reforms would enhance Turkey's ability to attract foreign investment and the predictability of its trade regime.
The report notes that since 1998, Turkey has implemented four stabilization programmes but they are yet to show full and sustainable effects. The economic situation remains fragile and the country’s vast potential for attracting investment remains largely untapped, in part because of politico-economic instability, high external indebtedness, slow progress in the implementation of its privatization programme and restrictions on foreign direct investment.
The report also calls for further simplification of the tariff which remains complex, and the extension of the binding commitments to ensure further integration of Turkey into the multilateral trading system.
|posted by Douglas N. Jacobson| Permalink 
