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.
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.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
- From Zero To Crypto Hero In 25 Minutes: Changelly Introduces A Free Gamified Crash Course
- Bitmex And Tradingview Announce Trading Campaign, Offering 100,000 USDT In Rewards And More
- FBS Analysis Shows Ethereum Positioning As Wall Street's Base Layer
- Japan Halal Food Market Size To Surpass USD 323.6 Billion By 2033 With A CAGR Of 8.1%
- Ethereum Based Meme Coin Pepeto Presale Past $6.6 Million As Exchange Demo Launches
- DOLLUM Expands Wallet Opportunities, Introducing New Security Features Following The DOL Token Sale
More Story
Comments
No comment