Turkey edges towards EU

The EU has opened up the second chapter of Turkish EU membership negotiations, coinciding with the 20th anniversary of the European Movement in Turkey.

On the 29th March, the EU gave its green light to opening membership talks with Turkey for the area of enterprise and industrial policy. It is the second of 35 negotiation chapters needed to be brought in line with the EU’s set of rules.

Turkish Chief Negotiator Ali Babacan said in a public statement that the decision to open membership talks marked an important step in the Turkish EU accession process and that negotiations could now proceed at full speed ahead.

Turkish EU membership talks had been partially suspended for eight of the 35 chapters last December 2006 due to Turkey’s reluctance to open up its ports and airports to ships and planes from Cyprus.

Babacan said that Turkey was waiting for the embargo on the Turkish part of the island to be lifted seeing that there would be no progress on Cyprus until the isolation came to an end.

Despite the AKP Turkish government being one of the few with the clearest vision towards the EU, the German Ambassador to Ankara, Dr. Eckart Cuntz, pointed to the polls that show how support for Turkish EU membership has recently fallen in the country and he no longer saw the same enthusiasm about the EU he had done the previous year.

However, positive news for those in support of Turkey’s efforts to join the EU also came recently when it was announced that current pro-western Prime Minister Yayyip Erdogan would take over from more traditional President Ahmet Necdet Sezer later in the year. It reported that the Prime Minister has already secured investment in Turkish telecoms companies and banks – prompted by the recent act to allow foreign investors mortgages – from western countries.

Turkey started negotiations for EU membership in 2005 and the accession process is likely to take at least a decade to complete. When Turkey does eventually join the EU as a full member, it will no doubt further open up the property market to European buyers. However, the number of Brits currently owning a property in Turkey is far from small, having reached almost 15,000.

“Turkey is fast becoming a key location for British residential investors, with price growth being between 10 and 40 per cent a year,” commented Susan Pelekanou, Managing Director at Islands Blue Ltd. “This is down to low entry levels, a simple buying process, low cost of living and sunny climate as well as the move towards EU accession”, according to Pelekanou.

An important argument in favour of Turkey is that the country has a very dynamic, rapidly modernising economy. In 2004 and 2005, growth was above 7 per cent, being far above average growth in the EU. Although the current GNP per capita is still lower than all of the other new EU countries, the current economic growth rate suggests that in a few years, Turkey will have overtaken Poland and Romania.

In addition, Turkey has a young population. That, combined with the size of the country, and its growth rates, constitutes a major dynamism and a good opportunity for the EU.

Two-bedroom bedroom apartments are currently available to overseas buyers in Bodrum, Turkey through Regum Limited. Fifteen minutes from the airport and 25 minutes from the centre of Bodrum, the duplex apartments (pictured) come with a fully fitted kitchen, bathroom, lounge and balcony with a view over the sea. Residents can also enjoy their private beach with wooden quays as well as an open air pool, a jacuzzi, fitness centre, tennis court and 24-hour security. Prices start from £59,900.

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Turkey edges towards EU

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