Türkiye has taken a step toward deeper financial integration with Europe by expressing its interest in joining the Single Euro Payments Area (SEPA), a move that could make cross-border transactions with the European Union faster and more efficient.

According to a joint statement issued after the EU-Türkiye High-Level Economic Dialogue, Ankara has sent a letter to the European Payments Council (EPC) outlining its intention to participate in SEPA, The Caspian Post reports via Interfax.

The two sides agreed that Türkiye's potential inclusion in SEPA would enable quicker cross-border euro payments, assisting to strengthen trade, investment, and economic cooperation between Türkiye and the European Union.

The high-level meeting also brought together representatives from the European Investment Bank, the European Bank for Reconstruction and Development, and the Council of Europe Development Bank, underscoring continued cooperation on financial and economic issues.