Published by Global Banking & Finance Review®
Posted on February 6, 2026
1 min readLast updated: February 6, 2026
Add as preferred source on GoogleEurope and Turkey agreed to modernize the customs union, aiming to enhance economic security and competitiveness. The European Investment Bank will resume operations in Turkey.
ISTANBUL, Feb 6 (Reuters) - The European enlargement chief and the Turkish foreign minister said on Friday they had agreed to continue work toward modernizing the EU-Turkey customs union and to improve its implementation.
European Commissioner for Enlargement Marta Kos met Turkish Foreign Minister Hakan Fidan in the capital Ankara on Friday.
"They shared a willingness to work for paving the way for the modernization of the Customs Union and to achieve its full potential in order to support competitiveness, and economic security and resilience for both sides," they said in a joint statement afterward.
The sides also welcomed the gradual resumption of European Investment Bank (EIB) operations in Turkey and said they intended to support projects across the country and neighbouring regions in cooperation with the bank.
(Reporting by Ece Toksabay and Ezgi Erkoyun; Editing by Jonathan Spicer )
The European Investment Bank (EIB) is the lending arm of the European Union, providing finance and expertise for sustainable investment projects that contribute to EU policy objectives.
Economic resilience refers to the ability of an economy to recover quickly from difficulties, such as economic shocks or crises, and to maintain stable growth and employment levels.
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