According to the Ministry’s statement, Minister Bolat comprehensively highlighted at the meeting the opportunities offered by Türkiye’s strategic location, its potential as an investment hub, and forward looking strategies to strengthen trade and cooperation between the two countries. As a result of the discussions, the JETCO Protocol, the 2026–2027 Action Plan, and the Mutual Recognition Arrangement for Authorized Economic Operators, which include steps to develop trade, investment, and economic relations, were signed.
The statement emphasized that the 2026–2027 Action Plan covers a wide range of areas, from the digitalization of trade between the two countries and twin transition initiatives to strengthening business relations and joint projects in third countries, serving as an important roadmap for deepening commercial relations in the upcoming period.
The Authorised Economic Operator (AEO) Status Will Be Mutually Recognized
Under the signed Mutual Recognition Agreement, Turkish companies with Authorized Economic Operator (AEO) status will be recognized as trusted traders by the United Kingdom. As a result, these companies will be subject to fewer physical inspections in customs procedures, benefit from priority processing, and experience shorter waiting times. The Ministry stated that this arrangement will enhance predictability and transparency in trade between the two countries.
FTA Update Negotiations to Continue in February
Progress has been made in the negotiations on updating the Turkey–United Kingdom Free Trade Agreement (FTA), and it was agreed that discussions will resume in London in February.
During the meeting, leading business representatives from both countries also came together to explore joint investment and trade opportunities. The statement noted that Minister Bolat highlighted Turkey’s young and skilled workforce, its geographic position offering access to new markets, and its comprehensive investment incentive program, which make the country an attractive investment hub. Additionally, satisfaction was expressed regarding the benefits provided by the Memorandum of Understanding on Cooperation in Third-Country Contracting Projects signed with the United Kingdom.
The statement noted that Minister Bolat’s visit to London represents a “critical milestone” for deepening economic and trade relations between the two countries and diversifying mutual investment opportunities.
Comments
No comment yet.