Turkey + EU considering easing trade ties:Turkey is discussing updating its customs union with the EU in a bid to re-engage with EU countries’ and investors and boost trade, Bloomberg reports. Although the European Commission has long pushed to update the trade agreement, which has been in place since 1995, no progress has been made due to political tensions with Turkey. While the union provides for a common external tariff for all industrial goods, it does not apply to services, public procurement, or agricultural goods.

What’s the delay? “There are difficult issues to be addressed in this regard,” EU customs commissioner Paolo Gentiloni told Bloomberg after meeting with Turkish Finance Minister Mehmet Simsek. Turkey must first resolve tensions with Cyprus as a stepping stone for re-engagement with the EU, EU foreign affairs chief Josep Borrell is quoted as saying.

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