The number of Regional Trade Agreements (RTAs) have been rising since 1980s. But this increase has been accelerated in recent years. This can be attributed to several facts: changing pattern of global trade, emerging of new global actors, new trade problems but more importantly the impotency of World Trade Organization (WTO) to handle these new problems. In addition to the explosion on the number of RTAs, the contents of the agreements have also changed. These trade agreements have begun to frame the new trade related problems- beyond the WTO. These new agreements are called Deep Trade Agreements. Turkey has also signed various RTAs. Turkey have Customs Union Agreement and 21 Free Trade Agreements (FTAs) in force. The aim of this study is to analyze the effects of FTAs in Turkey. According to the findings, Turkey’s trade volume with FTA partners is unsatisfactory. Furthermore, Turkey’s agreements are not deep enough with respect to the other countries. Turkey should sign deep agreements that regulates more trade related issues in order to augment the trade and attract foreign direct investment.
Keywords: Free Trade, Regional Trade Agreements (RTAs), Free Trade Areas (FTAs), World Trade Organization (WTO), Deep Trade Agreements
The Rise of Regional Trade Agreements (RTAs) And Deep Trade Agreements: A Case of Turkey’s Free Trade Areas (FTAs)