European Union Opens Doors for Turkish Defense Companies

Forex - The European Union (EU) is opening doors for Turkish defense industry companies in its plans to prepare the local defense industry for war. According to a report compiled by Değer Akal from the Financial Times, a significant development has occurred in the negotiations regarding the European Defence Investment Plan (EDIP) regulation, which aims to strengthen the defense industry among EU member states and promote joint weapon production and procurement. Until now, France had insisted that only EU member states could benefit from the financial resources provided by the EDIP. However, it has finally changed its stance. French diplomats have signaled their approval for a proposal that allows 35% of the financial resources from the EU budget to be spent on defense products from non-member countries and enables procurement from these countries during technical talks held in Brussels. The proposal is reportedly prepared by Hungary, the current EU presidency, and includes contributions from France, Germany, Italy, and Spain.