Turkey has announced its intention to join a Single euro payment Area

Turkey has announced its intention to join the Single Euro Payment Area (SEPA), which will make international payments cheaper, the Ministry of Treasury and Finance said.

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“Turkey has sent a letter of intent to EU representatives to join SEPA. Membership in the zone will make cross-border payments cheaper and faster, making them safer for businesses and citizens,” the ministry said.

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The letter was delivered during a high-level meeting of the Economic Dialogue between Turkey and the EU.

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Currently, SEPA includes more than 40 countries, including 27 EU countries. Turkey has been a candidate for EU membership since 1999.