1. Four years after the conclusion of this agreement, the Association Council is considering whether, taking into account Turkey`s economic situation, it can define, in the form of an additional protocol, the provisions relating to the conditions, detailed rules and timetables for the implementation of the transition period under Article 4 of the agreement. The conditions for the implementation of the provisions of this agreement in other areas in these areas will be set at a later date, by mutual agreement between the parties. Turkey first applied for membership of the European Economic Community (EEC) in July 1959, with the EEC established in 1958. The EEC responded by proposing the establishment of an association as an interim measure leading to full membership. This led to negotiations that culminated in the Ankara Agreement on 12 September 1963.  Applications for funding from Turkish companies are not accepted without the agreement of the Turkish government. The parties agree to develop a consultation procedure to ensure the coordination of their trade policies towards third countries and mutual respect for their interests in this area, particularly in the event of the subsequent accession of third countries to the Community or association with the Community. 2. This step is no more than twelve years, subject to derogations that are made by mutual agreement. Exceptions must not impede the final creation of the customs union within a reasonable period of time. – the gradual establishment of a customs union between Turkey and the Community; 3. Each contracting party is invited to take the necessary steps to comply with these decisions.
Each party may present difficulties in terms of the right of establishment, service delivery, transport or competition to the Association Council at the beginning of the preparatory phase. If necessary, the Council of Contracting Parties makes appropriate recommendations to resolve these difficulties. The Turkish state and Turkish companies can submit applications to the European Investment Bank for financing investment projects aimed at increasing the productivity of the Turkish economy and promoting the objectives of the Association Agreement, which are part of the Turkish development plan.