FOREIGN TRADE AND ECONOMIC INTEGRATION RELATIONSHIP: EVALUATION OF TURKEY IN TERMS OF EU AND BRICS

Authors : Bahadır Murat Çakmaklı

Pages : 9-30

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Publication Date : 2025-04-30

Article Type : Research Paper

Abstract :Trade policies are important factors in ensuring the welfare and economic stability of countries. It is seen that the power of foreign trade in determining macro and micro plans forces countries to act together and establish integrations based on economic cooperation. Although Turkey wants to become a member of the European Union (EU) to take advantage of the advantages provided by economic integrations, it has not been able to realise this desire until today and has decided to gradually diversify its integration policy as of 2024. At the beginning of these decisions, the desire to apply for membership by improving its relations with BRICS can be shown. The aim of this study is to determine the contribution of foreign trade between Turkey and the EU and BRICS to Turkey\\\'s economic growth by using the Generalised Method of Moments (GMM) for the period between 1985 and 2023. As a result of the analysis, it is found that Turkey\\\'s foreign trade with both integrations has a positive and significant effect on Turkey\\\'s economic growth, but foreign trade with BRICS member countries has a stronger effect on Turkey than EU countries
Keywords : Türkiye, İhracat, İthalat, Ekonomik Büyüme, AB, BRICS