Türkiye and the United Kingdom have agreed to begin the first round of negotiations by the end of July to modernize and expand their Free Trade Agreement, aiming to boost economic ties and reflect evolving trade priorities.
Turkish Trade Minister Ömer Bolat announced that Ankara and London will commence talks by the end of July to upgrade their Free Trade Agreement (FTA), which was initially rolled over when the UK exited the European Union in 2020.
In a post shared on X, Bolat described his meeting in London with UK Secretary of State for Business and Trade, Jonathan Reynolds, as constructive. He said the two sides had signed sections of the FTA covering the motor vehicle and chemical sectors - an "important step in the modernization process."
The FTA review conducted in 2023 by both countries concluded that there was significant potential to improve and expand the agreement, which currently focuses primarily on goods trade.
Bolat added that both sides have also agreed to hold the 8th session of the Türkiye–United Kingdom Joint Economic and Trade Committee in London later this year. That meeting will serve as a broader platform to assess and deepen overall trade relations.
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Start your day informed with AnewZ Morning Brief: here are the top news stories for the 30th of December, covering the latest developments you need to know.
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Start your day informed with AnewZ Morning Brief: here are the top news stories for the 30th of December, covering the latest developments you need to know.
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