The panel would like to analyze and compare in a long-term perspective selected examples of economic, trade and financial relationships between Europe and the Ottoman Empire/Republic of Turkey in the Early Modern Age and in 19th-20th centuries.
The economic relationship between Europe and the Turkish homeland have been a constant feature since the Middle Ages. With the increase of European Mercantilism the economic linkages between western and eastern banks situated in the Mediterranean region followed an upward trend. Although the military struggle often reduced the connections between the banks, economic relationships flourished more than political. The first topic regards the political struggle between the Habsburg Empire and France in 16th century. The latter compelled to approach the Ottoman forces in order to counterbalance the Habsburg power, which formed alliance with the Genovese fleet. The unlikely French-Ottoman cooperation paved the way for the beginning of the Capitulation system which gave important trade benefits. The second topic regards the 19th century when the European Power started controlling the Ottoman economy thanks to the sign of a series of trade-free agreement with the West. In light of this, and after the Ottoman bankruptcy in 1875-76, the European powers took control both of the Ottoman Central Bank and Ottoman Public finance through the Council of Administration of Ottoman Public Debt until the outbreak of the First World War. The third essay topic the beginning of Turkish Republic to "westernizing" its economic, political and social structures. Having entered into very close cooperation with Western Europe in the political field, it was therefore only natural for Turkey to complete this in the economic area. Thus, on September 12, 1963, the Ankara Agreement was signed: an Agreement Creating An Association Between The Republic of Turkey and the fledgling European Economic Community.