Turkey closely following developments on EU's Green Deal

Financing from the international community is key for making the transition to a green economy, said a top Turkish diplomat on Tuesday, adding that as an EU candidate, Turkey should be able to enjoy some of the funding provided to other candidate countries.

Speaking at the 12th Bosphorus Summit in Istanbul, Deputy Foreign Minister Faruk Kaymakçı said Turkey is closely following developments on the EU's Green Deal, announced earlier this year.

The two-day summit, organized by the International Cooperation Platform (ICP), started on Monday.

"When we talk about the Green Deal, we're not (just) talking about the environment, it's as related to trade as it is related to industry," said Kaymakçı. "We need to have sustainable green transport, which is also about energy policies."

Some countries can finance Green Deal projects themselves, but the green transition is not only in Europe, but everywhere, and of course Turkey is also trying to evolve, he stressed.

Telling how the Turkish government adopted a Green Deal action plan, Kaymakçı said Turkey is focusing on such important elements as carbon border adjustment mechanisms.

On Turkey's long-sought update to its 1995 Customs Union with the EU, he said this is also related to the Green Deal, as free trade pacts with third countries would help the bloc to adopt climate action and sustainability policies.

"I think there is urgency that we focus more on modernization of the Customs Union," he added.

BOSPHORUS SUMMIT

The summit, an annual international economic event, is being held under the theme "Challenges for a Better World," with top officials, experts, and academics in attendance.

The summit is covering a wide range of issues, including international economic relations, Islamic investing, innovation, and aviation sustainability.

Other subjects to be discussed include cyber security, agriculture, green energy, climate change, and displaced people.