UK calls on companies to help shape Türkiye-UK trade talks – Latest News

ISTANBUL

The U.K. has launched a “Call for Input” seeking views from the U.K. and Turkish businesses and the wider public on objectives for a new, modernized free trade agreement (FTA) between the U.K. and Türkiye.

The “Call for Input” will give businesses, organizations, and individuals the opportunity to shape the negotiations ahead of talks and help ensure the updated trade deal is tailored to businesses, the Department of Trade and Business said in a statement on Nov. 2.

Trade between the two countries reached 23.5 billion pounds in 2022, making Türkiye a top 20 trading partner for the U.K.

The U.K. and Türkiye have an existing FTA, which was negotiated when the U.K. was a member of the EU and only covers goods.

The two countries have now committed to negotiating a new, modernized FTA that is fit for the 21st century and could cover sectors such as services, tech and digital, the statement added.

“Türkiye and the U.K. are strategic partners and allies. We share a thriving trading relationship which creates economic growth and employment in both our countries,” said Jill Morris, the U.K.’s ambassador to Türkiye.

“Free Trade Agreements are a great tool at our disposal to further strengthen our business links. To make the most of this opportunity we need businesses to help us shape the approach.”

The U.K. places significant importance on enhancing and strengthening our trade ties with Türkiye, said Kenan Poleo, British trade commissioner for Eastern Europe and Central Asia, adding that the “Call for Input” on the new FTA presents a unique opportunity for businesses to put forward their views.

“I would encourage all businesses, institutions and individuals to participate and help shape the forthcoming negotiations.”

Türkiye is a major supplier of goods to the U.K., which is its fourth largest goods export market, valued at 12 billion pounds.