12/29/2020

Turkey, UK Sign Free Trade Deal

Turkey and the UK have sealed a free trade agreement on December 29. Turkey's Trade Minister Ruhsar Pekcan and her British counterpart Liz Truss inked the agreement on a video call.

"This is a historic day for Turkish-UK relations," Minister Pekcan said in her speech. “This agreement will be the biggest guarantee of the development of our trade between Turkey and the United Kingdom in the coming period. It will guarantee that our companies can export easily and smoothly to the UK in the sectors where we are competitive," she added. Minister Pekcan also stated that the trade volume between the two countries hits USD 15.1 billion in the January-November period.

Pivoting to Brexit's transitional period, Minister Pekcan said Turkey continued negotiations with the United Kingdom for a long time despite uncertainties in the negotiations between the EU and the UK.

The agreement will take effect on January 1, 2021.​

Turkey; UK; free trade agreement; Trade Minister; Ruhsar Pekcan