In an effort to deepen relations with the country, the UK government intends to pursue a new trade deal with Turkey. Negotiations on an updated free trade agreement are expected to begin in 2024. The current deal, which was rolled over after Brexit, is restricted to trade in goods; UK negotiators will attempt to expand the relationship to cover digital trade and services.
Business and Trade Secretary Kemi Badenoch: “Turkey is an important trading partner for the UK and this deal is the latest example of how we are using our status as an independent trading nation post-Brexit to negotiate deals that are tailored to the UK’s economic strengths. I look forward to using the deal to deepen the UK-Turkey trading relationship, drive economic growth and support businesses up and down the country.”
There could also be scope for securing cheaper imports from Turkey, particularly of Mediterranean fruit and vegetables and products like olive oil.
Britain’s trade with Turkey was worth £23.5 billion in 2022, but heavily favored Turkey with the UK importing £6.5 billion more than it exported.
Source: uk.news.yahoo.com
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