Free trade negotiations between Britain and Turkey: the official start of a new page

Mostafa Ahmes
Wednesday , 20 March 2024 13:38 PM GMT

In an important step, Britain and Turkey are launching formal negotiations to conclude a new free trade agreement, aimed at enhancing trade exchange and expanding the scope of the agreement to include services and goods.

Although there was a previous Free Trade Agreement between the two countries, which was extended after Brexit in 2020, there is a need to strengthen and improve it according to the latest assessment.

In this context, British trade minister Kimi Badenoch stressed that the aim of the new agreement is to strengthen the flourishing trade relations between the two countries, especially in the British services sector, and provide new job opportunities.

For its part, the Turkish Ministry of Commerce confirmed that the negotiations will focus on expanding the scope of the agreement to include services, investments and the agricultural sector, in addition to establishing "comprehensive rules" to achieve mutual economic benefits.

These negotiations reflect the commitment of the two countries to enhance trade exchange and expand opportunities for Economic Cooperation, in light of global economic challenges.

Any future agreement between the two countries is expected to enhance British consumers ' access to Turkish products, and provide new opportunities for British companies to increase their exports to Turkey.

These negotiations come in a vital context for Britain, which is seeking to sign new trade agreements with several countries, in a move that strengthens its economic position in the world, and expand trade exchange opportunities after its exit from the European Union.

It should be noted that the current negotiations come after the suspension of Britain's talks with Canada on a new Free Trade Agreement, which shows the many challenges and complexities facing the trade negotiation process in the current era.