Strategic economic ties enter a new phase with expanded cooperation agenda
FTA aims to boost trade, investment, and sustainability between Türkiye and the UK
The first round of negotiations to modernize the Türkiye–United Kingdom Free Trade Agreement (FTA) has been successfully concluded in Ankara. These talks follow the official visit of Türkiye’s Minister of Trade, Ömer Bolat, to London in May, where both sides agreed to update the existing trade deal to reflect evolving economic priorities.
Senior representatives from both countries’ relevant institutions participated in the discussions, which were described as highly productive. Several critical topics were addressed to broaden the agreement’s scope and enhance bilateral economic cooperation.
Key Areas of the Updated Agreement
The upcoming version of the Türkiye–UK FTA is expected to cover a wide array of strategic domains, including:
- Expanding mutual market access for agricultural products
- Introducing comprehensive provisions on services trade, including opportunities in Islamic finance, healthcare, and audiovisual services
- Facilitating bilateral investment through shared initiatives
- Establishing mutual recognition of geographical indications
- Enhancing awareness for SMEs on bilateral trade opportunities
- Fostering cooperation on innovation, consumer protection, and women’s economic empowerment
- Integrating sustainable development goals into trade-related environment and labor policies
- Simplifying customs procedures via traditional and digital channels to streamline trade
Joint Commitment and Strategic Outlook
Both Türkiye and the United Kingdom reaffirmed their strong commitment to finalizing the modernized FTA promptly, aiming to deliver tangible economic benefits to both sides. The next round of negotiations is expected to take place by the end of 2025.
In 2024, the bilateral trade volume reached $22 billion, positioning the United Kingdom as Türkiye’s seventh-largest trading partner. Additionally, with an $8 billion trade surplus, the UK remains Türkiye’s second-largest net trade surplus partner.
With its 69 million population, the UK presents a strong demand for Türkiye’s export goods, while serving as a strategic economic partner supporting employment in Türkiye.
Vision for a Next-Generation Trade Deal
Through a constructive and determined dialogue, both nations are laying the groundwork for a next-generation agreement that reflects shared values, innovation, and inclusive economic growth. The revised Türkiye–UK FTA is expected to set a new benchmark for bilateral trade in the post-Brexit era.
