In the statement made by the Ministry, it was stated that the economic cooperation between the two countries is progressing at a strategic level and the updated FTA will give a new and strong momentum to this cooperation.
It was stated that during the negotiations, which started within the framework of the agreement reached with the UK counterpart during the visit of Trade Minister Ömer Bolat to London in May, many critical topics were discussed in order to deepen the scope of the FTA.
It was reported that with the updated agreement, it is aimed to provide new mutual market openings in agricultural products, comprehensive cooperation provisions will be included in the trade of services and opportunities such as Islamic finance will be explored, especially in the field of financial services. It was also emphasized that sectors in which Türkiye is competitive, such as health and audiovisual services, will be supported and joint steps will be taken to facilitate investments.
Cooperation will be concretized in areas such as mutual recognition of products with geographical indications, awareness-raising activities for SMEs, innovation, protection of consumer rights and economic empowerment of women. While a sustainable development perspective will be adopted in environmental and labor issues, simplification of customs procedures in traditional and digital channels will be ensured within the scope of trade facilitation.
In the statement of the Ministry of Trade, it was noted that the strong will to complete the FTA as soon as possible in a way that will contribute to the prosperity of both countries was once again confirmed during the negotiations.
In 2024, the annual trade volume between the two countries reached 22 billion dollars and the United Kingdom was Türkiye's seventh largest trading partner. It was stated that the United Kingdom gives a foreign trade surplus of 8 billion dollars to Türkiye, and in this context, it is the country with the second largest trade surplus.
With a population of 69 million, it was emphasized that the UK market continues to be a strategic economic partner that offers strong demand for Türkiye products and supports employment in Türkiye.
Finally, it was stated that the next round of negotiations between Türkiye and the UK is targeted to take place by the end of 2025 and that the constructive, committed dialogue process will pave the way for the conclusion of the FTA as a next generation agreement.
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