In 2019, bilateral trade between Turkey and the United Kingdom totalled 20,4 billion euros. The UK is Turkey’s 2nd largest trading partner.
The agreement between Turkey and the United Kingdom to sign an FTA (Free Trade Agreement) will be signed tomorrow, Tuesday, as announced by British Trade Minister Liz Truss, thus confirming the first post-Brexit agreement since Prime Minister Boris Johnson reached a pact with the European Union on the new commercial relations between London and the 27 member countries of the EU.
The new agreement between Ankara and London will in principle establish trade terms similar to those that already existed before Brexit, although Truss has expressed hope that Turkey and the United Kingdom can later sign a tailor-made and improved bilateral agreement.
“The agreement we plan to sign this week sets out free-trade pacts, and will help support our trade relationships. It will provide certainty for thousands of jobs across the UK in the manufacturing, automotive and steel industries,” said the minister in a statement. “Now we look forward to work with Turkey to achieve an ambitious and tailor-made trade deal between the UK and Turkey in the near future,” she noted.
In 2019, bilateral trade between Turkey and the United Kingdom amounted to a total of 20,4 billion euros, being the UK the 2nd largest importer of Turkish products after Germany. London has signed trade agreements with a total of 62 countries before the end of the transition period towards Brexit on January 1, but the FTA negotiated with Turkey is the 5th largest negotiated by the United Kingdom in terms of volume of commercial exchanges, only behind those of Japan, Canada, Switzerland and Norway.
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Edited and reviewed by:
Pablo Gómez is a specialist in Turkey and has been editor-in-chief of Hispanatolia since 2011. He has been analysing current affairs and geopolitics in Turkey and the surrounding region since 2006.
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