Turkey, also known as the Republic of Turkey, is a Eurasian country that has its boundaries across the Anatolian peninsula in Western Asia and Thrace (Rumelia) in the Balkan region of south-eastern Europe. In 1959, the country applied to be an associate member of the European Economic Community and gained the membership in 1963. In 1987, the country reapplied for the full membership from the EU. Since Turkey has always been viewed as a European nation, it is quite evident that the benefits of Turkey joining the EU would be definitely a value add.
Turkey is a country which holds different categories within itself, like it is a country with majority of Muslim population and hence its culture is common to the Arab world and is greatly like an Asian. However, when the country is viewed from the international association from the NATO to the UEFA champions league, it easily settles under the European umbrella. Hence, when Turkey will be joining the EU, its potential benefits will include higher growth and investment from the parent which will involve better economic status.
The other benefits of Turkey joining the EU will include breaking of barriers to trade, of both tariff and non- tariff type, and thus it will make it easier for the firms in Turkey to export their goods. This will undeniably give the country a competitive low labour costs and thus will help to bridge income inequalities. In addition, the country can easily expand its production and get lower costs for the raw material from these European countries. This will encourage a stiff competition amongst the other member countries, which would benefit the end user and in turn raising its economic status.
The membership or joining the EU will also open new avenues and benefits for Turkey like an increased competition with the rivals of the EU by being a dynamic economy in Europe. It will help in making a balance in the economy of European, by competing against the upcoming superpowers of India and China. Moreover, it will also bring stability in its relation with Greece and will benefit the EU to stabilize its relation along the borders of the Arab World. Furthermore, the membership will encourage inward investment by giving new market of potentials and labour costs that are low.
Turkey stands amongst the poorer areas in the EU with firm fundamental principles like liberty, democracy, respect for human rights and fundamental freedoms which is one of the main criteria by EU to review if a country is ‘European’ to join. In addition, it has historical ties with the Europe along with historical goal to join the modern world. Looking at the various benefits of Turkey joining the EU, it will be one of the significant events in the history of Europe. Moreover, the EU should let the European inhabitants believe that its way of life shall not be diluted with Islam.