Turkey, UK Seek to Deepen Trade Ties

(MENAFN) Turkey and the United Kingdom are working to broaden their existing post-Brexit trade pact to encompass services, capital flows, agricultural benefits, and online commerce, according to officials and industry figures on Friday.

This initiative seeks to enhance the current Türkiye-UK Free Trade Agreement and reflect the strengthening economic relationship, particularly in advanced sectors.

During the UK-Türkiye Business Forum held in London — which was attended by Turkish Trade Minister Omer Bolat — participants emphasized the necessity of this upgrade.

The initial phase of discussions regarding the updated agreement is anticipated to conclude by late July.

In an interview with a news agency, Osman Okyay, the head of the DEIK Türkiye-UK Business Council, stated that Turkey's shipments to the UK grew by 11 percent compared to the previous year in 2024.

He referred to the evolving partnership as entering “a new phase” in terms of both reach and intricacy after Brexit.

“Our exports now go beyond products to include systems and solutions,” he remarked, highlighting expanding collaboration in areas like defense, research and development, engineering, digitalization, and ecological transformation.

“This is no longer a simple trade relationship,” he continued. “It’s becoming strategic — combining Türkiye’s supply chain strengths with the UK’s need for reliable, adaptable partners.”

The forum's sessions in London explored fields such as artificial intelligence, digital innovation, sustainable development, infrastructure, healthcare, banking, and academia.

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