Twelfth Global Studies Conference

Abstract

On 23 July 2016, British people voted for leaving EU narrowly with 51.9%. The result was a shock for EU and the world. The United Kingdom leaving the EU invokes Article 50 of the Lisbon Treaty, which gives the two sides two years to agree the terms of the withdrawal. Theresa May triggered this process on 29 March, 2017, meaning the UK should leave by 29 March, 2019. It remains unclear how the United Kingdom will establish a model of relationship as a result of the negotiations with the EU after the withdrawal. There are a number of non-EU member countries that have economic cooperation with the EU such as Canada, Turkey, Switzerland and Norway. Among these countries, EU-Canada Economic and Trade Agreement (CETA) is the most probable economic model between EU and the UK in the light of Brexit negotiations. On the other hand, Turkey has customs union with EU since 31 December 1995 and has the least advantaged trade agreement with EU. Turkey’s kind of agreement is not possible between EU and the UK since third countries that sign a free trade agreement with the EU have automatic access to the Turkish market, without opening their own markets for Turkish goods. In this study, CETA and Turkey’s Customs Union with EU is analyzed. After analyzing these trade agreements, possible trade agreement for the UK is discussed, and in what terms Turkey may boost economic relations with EU after Brexit withdrawal agreement.