The recent crisis has deeply changed the environment in which the EC-Turkey Custom Union (ECT) will develop. The world trade in goods was experiencing its worst collapse in almost a century (a fall of 20 percent in volume in one year, twice more than in 1929-30 for the same time lapse) but it looks also faster back on track. Meanwhile, trade in some services (telecoms, insurance, etc.) has been resilient to the crisis, even during its peak, while trade in the other services (transportation, tourism, etc.) has been hurt, though less than trade in goods (...).
