Updated: 27/05/2024

Economic Criteria

The Copenhagen European Council of 22 June 1993 set conditions for candidate countries before they become eligible for membership. These conditions require member states to meet political and economic criteria and to have ability to take on obligations of membership. In the context of economic criteria, candidate countries are expected to achieve the existence of a functioning market economy as well as the capacity to cope with competitive pressure and market forces within the Union.

Existence of functioning market economy requires  achieving macroeconomic stability, efficient functioning of product markets through improving business environment, eliminating entry/exit barriers to market,  establishing a well-functioning legal system especially in the area of intellectual and industrial property rights, decreasing state influence on product markets, developing financial market by achieving financial stability and facilitating access to finance and taking necessary measures to achieve smooth functioning of the labour market.

To be able to compete successfully with the market forces in the EU, in addition to existence of a functioning market economy, it is necessary to improve physical and human capital, support education and innovation, enhance business and sectoral structure, diminish the role of state in the economy through privatizations, and increase integration with the EU through trade and investments.

Within the context of economic criteria, it is essential to strengthen dialogue with the EU in design and implementation of economic policies. In this framework, Türkiye has been submitting fiscal notification tables to EU since 2001, which presents data on government debt, budget deficits, GDP growth, etc. Moreover, Türkiye has been preparing  Economic Reform Programme and submitting to EU since 2001.  The Economic Reform Programme is a policy framework document presenting medium term macroeconomic scenario and planned structural reforms for the next three years.

The Commission publishes its horizontal assessments on the ERPs of all candidate and potential candidate countries and its assessment on the country's ERP. Later, the Joint Conclusions of the Economic and Financial Dialogue between the EU and the Western Balkans and Türkiye, which includes country-specific policy recommendations, is adopted.

Relevant Subcommittee Meetings

Subcommittee No 4 on Economic and Monetary Issues, Capital Movements and Statistics

Updated: 27/05/2024 / Hit: 30,201