pound Joint Statement on the EU-Trkiye High-Level Economic Dialogue
The High-Level Economic Dialogue (HLED) between the European Union and Trkiye was held in Istanbul on 2 July 2026. The meeting was co-chaired by Valdis Dombrovskis, Commissioner responsible for Economy and Productivity; Implementation and Simplification, on behalf of the EU, and Mehmet Simsek, Minister of Treasury and Finance, on behalf of Trkiye.
The HLED reflects the shared commitment of the EU and Trkiye to strengthening their economic and financial relations and cooperation in areas of joint interest. It is an important element in the broader efforts to enhance EU-Trkiye relations, in line with the recommendations set out in the Joint Communication on the state of play of EU-Trkiye political, economic and trade relations from November 2023, according to guidance by the European Council.
In times of growing geopolitical fragmentation, significant risks surrounding the economic outlook and with multilateralism put to the test, strong and mutually beneficial partnerships are more important than ever. Trkiye is a candidate country and a key partner for the EU. EU-Trkiye relations should continue to be guided by values, such as respect for the rule of law, fundamental rights, democracy and media freedom. This is particularly relevant in an increasingly polarised world to foster a mutually beneficial economic relationship, sustain economic confidence and strengthen the business environment. Sincere engagement in this direction is of fundamental importance. Trkiye informed the EU side that it has officially submitted its letter of intent to the European Payments Council (EPC), expressing its interest to join the Single Euro Payments Area (SEPA). The parties agreed that Trkiye’s potential participation in SEPA would enable faster, more secure, and more cost-effective cross-border payments, facilitating trade and investment between Trkiye and EU.
In this year’s Governmental Meeting of the Dialogue, the parties reviewed the latest economic policy developments and outlook in the EU and Trkiye amid a challenging geopolitical environment. They discussed steps taken by Trkiye to ensure price stability, safeguard financial stability and increase productivity, and similarly by the EU to further foster competitiveness, with the shared view to promoting sustainable and inclusive growth and economic resilience. Discussions also focused on the growing importance of economic security and on potential areas for deeper bilateral cooperation, including in sectors of strategic importance for both sides. Trkiye’s investment environment plays a key role in strengthening cooperation with the EU and international financial institutions (IFIs).
The HLED benefited from the participation of the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD) and the Council of Europe Development Bank (CEB). All participants appreciated the work undertaken by the IFIs to support competitiveness, economic security, connectivity, resilience and sustainability. The parties welcomed the recent re-engagement of the EIB in clean energy and energy efficiency projects in Trkiye which support SMEs and exporters. Both parties expressed their interest for further engagement in transport, energy and digital connectivity under the Connectivity Agenda. They highlighted the role played by the EBRD with a record of pound 2.7 billion of investments made in 2025, and acknowledged the importance of CEB in supporting resilience and inclusion through investments in social infrastructure. The parties underlined the criticality of coordination and complementarity of IFI interventions in line with EU’s and Trkiye’s policy priorities, to maximise added value and additionality.
The EU-Trkiye High-Level Business Dialogue (HLBD), an indispensable element of the HLED, brought together EU and Turkish business community representatives as well as representatives of the IFIs and national development banks. This meeting provided a valuable opportunity for the business communities to share first-hand views, proposals and expectations on how to further enhance EU-Trkiye economic, financial and investment relations, focusing on key obstacles to doing business in the EU and Trkiye, but also on new areas and critical sectors where engagement opportunities could be further explored by both EU and Turkish companies.
The parties reiterated their commitment to maintaining a regular, open and frank dialogue, to identifying and addressing common challenges, and to continuing cooperation in essential economic areas. In this regard, they agreed to meet next year in Brussels.
Remarks by President von der Leyen at the dinner hosted by the Taoiseach for the start of the Irish Presidency of the Council of the European Union
Taoiseach,
dear Micheál,
Ladies and Gentlemen,
Thank you for such a warm welcome. It is a particular pleasure to join you in this historic Aula Maxima, where both you and Commissioner McGrath were conferred with your degrees. There could hardly be a more fitting place to start your Presidency. Cork City is known for its merchant and rebel past. It is renowned for its independent spirit, its proud identity, and its long history of looking outward. That spirit has always been part of Ireland’s story. And for centuries, the Irish spirit has helped shape our continent. From the monks who kept the light of learning burning through the Dark Ages, to today’s remarkable artists and storytellers, like Cillian Murphy and Jessie Buckley, who captivate audiences around the world. Because of your pride in who you are and where you come from, the people of Ireland are never afraid of exploring new pathways and embracing the future. You have built one of our Union’s most dynamic economies, while remaining true to your values and your sense of community. Time and again, you have shown a willingness to lead, from becoming the first country to ban smoking in the workplace, to the first to legalise same-sex marriage by popular vote. And this is exactly what we need today: the confidence to embrace change while staying true to our values.
This is what’s so special about the Irish way. You bring people together, find common ground, and quietly get things done. Those qualities have served Ireland well. And they have served Europe well too. When Europe needs to navigate change, Ireland has so often helped to chart the course. Including during your successful Presidencies of the Council. In 2004, Ireland helped herald in the historic enlargement that welcomed ten new members into our European family. And in 2013, you helped deliver a new European budget, Erasmus+, and reform of the Common Agricultural Policy. Ireland has always shown that partnership, pragmatism and positivity can build consensus and move Europe forward. Like the River Lee, which flows through this city before meeting the Atlantic, the strength of our Union is gathered from many streams. Each Member State brings its own history, traditions and voice. And together, they flow towards a shared horizon.
So this evening, here where Europe opens out onto the Atlantic, let us look ahead with confidence. For centuries, the same tides that have lapped at Cork’s shores have carried people, ideas and friendships across the ocean. May that same spirit of openness and exchange guide us in the months ahead. To Ireland, and to a successful Presidency.
Long live Europe
Sláinte.
Commission adopts revised sustainability reporting standards to reduce administrative burdens for EU businesses while maintaining high-quality disclosures
The European Commission has today adopted revised European Sustainability Reporting Standards (ESRS) and a voluntary reporting standard for smaller companies.
ESRS cover environmental, social, and governance issues, including climate change, biodiversity and human rights. They provide information for investors and other stakeholders to understand the sustainability-related risks to which companies are exposed and their impacts on people and the environment.
The revised standards adopted today are designed to reduce administrative burdens for EU businesses while maintaining high-quality disclosures. They are part of the Omnibus I simplification package, which streamlines sustainability reporting in the EU and reduces the number of companies in scope of the Corporate Sustainability Reporting Directive (CSRD).
The revised ESRS are shorter and clearer, add new flexibilities, and streamline key processes. They reduce the number of mandatory datapoints by over 60% and the total number of datapoints by over 70%. These changes are expected to reduce reporting costs by more than 30% per company, in line with the Commission’s target of reducing burdens associated with reporting requirements by 25%.
The revised standards take into account the technical advice from EFRAG (previously known as European Financial Reporting Advisory Group), which was informed by stakeholder input gathered in spring 2025 and a public consultation on EFRAG’s drafts in summer 2025. The Commission is proposing targeted adjustments to further ease the reporting burden without undermining the CSRD’s policy objectives and sought stakeholders’ views in a Have Your Say consultation this spring.
The voluntary reporting standard provides a single, proportionate reference framework for sustainability reporting by smaller companies outside the scope of the CSRD. It will make it easier for companies not covered by the CSRD to respond to specific requests for sustainability information from large financial institutions and companies. It also establishes a value chain cap, meaning that companies subject to the CSRD cannot require companies in their value chains to provide more information than what is covered by the voluntary standard.
The delegated act revising the ESRS and the delegated act establishing the voluntary reporting standard will now be transmitted to the European Parliament and the Council of the EU for scrutiny. The measures will apply once the scrutiny period of 2 months, which can be prolonged by a further 2 months, is over.
(For more information: Siobhan McGarry- Tel.: +32 2 296 47 98; Saul Louis Goulding – Tel.: +32 2 296 47 35)
Commission clears acquisition of Tages and 21 Invest by Edizione
The European Commission has approved, under the EU Merger Regulation, the acquisition of sole control of Tages S.p.A. and 21 Invest S.p.A. by Edizione S.p.A., all of Italy.
The transaction relates primarily to private equity investment and management.
The Commission concluded that the notified transaction would not raise competition concerns, given the companies’ limited market positions resulting from the proposed transaction. The transaction was partially referred to the Italian competition authority pursuant to Article 4(4) of the EU Merger regulation, with respect to the markets for the supply of on- and off-airport parking facilities in Italy. The notified transaction was examined under the simplified merger review procedure.
More information is available on the Commission’s competition website, in the public case register under the case number M.12308.
(For more information: Ricardo Cardoso – Tel.: +32 2 298 01 00; Paula Clara Ritter-Moschtz – Tel.: +32 2 296 40 83)
Commissioner Šuica travels to Cairo to strengthen euro-mediterranean parliamentary cooperation and youth engagement
Tomorrow and Sunday, Commissioner for the Mediterranean Dubravka Šuica will be in Cairo, Egypt, to participate in the 10th Speakers’ Summit of the Parliamentary Assembly of the Union for the Mediterranean (PA-UfM). The Summit brings together the elected representatives and senior officials from the Euro-Mediterranean region and reaffirms the commitment to strengthening dialogue and cooperation across the Mediterranean.
Commissioner Šuica will seek to advance regional cooperation, foster youth engagement, and support the implementation of the Pact for the Mediterranean. On the margins of the Assembly, she will meet the new acting Secretary General of the PA-UfM Fadi Hajali. The Summit will mark the formal handover of the PA-UfM Presidency from Egypt to the European Parliament, following a successful year under Egypt’s chairmanship.
The mission takes place at an important moment in EU-Egypt relations. Following the successful 11th EU-Egypt Association Council on 15 June, it will help maintain the positive political momentum and advance the implementation of the Strategic and Comprehensive Partnership.
After the meeting with Egyptian Minister for Foreign Affairs, Badr Abdelatty, Commissioner Šuica will hold a press point that can be followed on EBS live at 14:00. This meeting is an opportunity to take stock of progress on key bilateral priorities, including investment, migration, regional cooperation and the Pact for the Mediterranean, while reiterating the importance the EU attaches to human rights, inclusive development and continued reforms.
On Sunday Commissioner Šuica will participate at the Anna Lindh Foundation Youth Conference Mediterranean Youth in Action. The event will highlight youth engagement in policymaking in the region. Commissioner Šuica will reiterate her commitment on including young voices in the Pact for the Mediterranean, notably through the establishment of a Youth Parliamentary Assembly, a flagship initiative under the Pact.
During the visit, the Commissioner Šuica will also meet Chief Commissioner Dr Ali Shaath of the National Committee for the Administration of Gaza (NCAG) – a transitional body established in January 2026 under the Gaza Peace Plan – to discuss ongoing cooperation on Gaza early recovery.