Transatlantic Trade and Investment Partnership and its Possible Effects on Turkish foreign trade

In recent years, European Union (EU) and the United States (US) change their trade policy and also they began negotiations for signing the most comprehensive free trade agreement. Its negotiatitons began in the second half of 2013 and called Transatlantic Trade and Investment Partnership (TTIP), whose key points are transperancy, coherence and non-discriminatory. With these type of qualifications, EU's and US's administratives believe that this partnership will boost economic power and not only for EU and US, but also all countries in the world benefit from the outputs of the agreement.On the other hand, although their intensions are widely same direction, sometimes controversial platforms occur, because both parties do not want to change their implementations at some topics such as conformity asssesments, generically modified products and hormone treated meat.Accordingly, the objective of this paper is to identify mainly the key challanges of the TTIP with qualitataive and quantitative data.Descriptive analysis of the data will be displayed. The agreement has two main body as horizontal side which means regulatory cooperation and sectoral side.In this paper, regulatory cooperation and its context are pointed to be essential subjects forwhy sectoral side has more details and it is hard to explain all circumstances in sectors.Afterfocusing on the reasons of the existance of the TTIP, the need will be explained. Then the possible consequences for EU, US and rest of the world will be explained. As a conclusion, mostly recommendations and expectations regarding the consequences for Turkey's foreign trade will take part.