ChemOrbis 2nd PO Event: US/EU TTIP will change global trade dynamics
Dr. Cetinkaya highlighted that Turkey’s petrochemical consumption increased 3.6% year over year in 2013 when the country consumed 110% more petrochemicals compared to 2001. According to him, Turkey is currently the second largest net petrochemical importer in the world after China.
Later in his presentation, Dr. Cetinkaya spoke about how the Transatlantic Trade and Investment Partnership (TTIP) between Europe and the US will affect global markets in the near future. He pointed out that the TTIP is an investment agreement which includes almost half of the world’s total GDP as well as 1/3 of its trade. “We will see that global trade dynamics will be altered by this agreement, which should significantly increase the ability of North America and Europe to compete with the Middle East and Asia-Pacific regions in the global economy,” Dr. Cetinkaya commented.
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