Trade with Turkey: call for input
The UK Govenment is seeking views from businesses and the wider public on UK negotiation objectives for a new trade agreement with Turkey.
It has launched a ‘Call for Input’ seeking views from businesses and the wider public on UK negotiation objectives for a new, modernised free trade agreement (FTA) with Turkey.
The UK and Turkey are two major trading economies at either end of the European continent. Trade between the two countries reached £26 billion in the 12 months to June 2023, making Turkey a top 20 trading partner for the UK. In 2022, over 8,000 UK VAT-registered businesses exported goods to Turkey, including well-known brands like Vodafone
The UK and Turkey have an existing FTA which is based on outdated provisions from the 1990s negotiated when the UK was a member of the EU, and only covers goods. We are committed to negotiating a new, modernised FTA that is fit for the 21st century and covers sectors such as services, tech and digital.
The Call for Input will give businesses, organisations, and individuals the opportunity to shape the UK’s negotiating aims ahead of talks and ensure the updated trade deal is tailored to the strengths and priorities of British businesses.
Turkey’s thriving tech, manufacturing, transport, and infrastructure sectors have generated a surge in demand for international expertise in recent years, presenting significant opportunities for UK companies. UK services exports to Turkey all already on the up, increasing by 54% to £2.1 billion in 2022, with key sectors including transport, financial services, architecture and audit.
A new FTA with modern provisions for services and digital trade could turbocharge this, creating opportunities for UK businesses and giving them a competitive edge on companies from other countries.
Responding to the launch of the call for evidence on a new trade agreement with Turkiye, BCC Head of Trade Policy, William Bain, said:
"Global trade has evolved since the current trading terms between the UK and Turkiye were put in place.
“It makes sense to build on the current continuity agreement to negotiate a new bespoke deal which meets the modern needs of business on services’ market access, business travel, digital trade and deeper investment links.
“UK companies are among the most committed investors in Turkiye's infrastructure and people. Many are involved in recovery and rebuilding efforts in areas hit by the terrible earthquakes this year. These forthcoming negotiations provide an opportunity to embed and upscale our bilateral investment flows.
“The BCC will be engaging with businesses of all sizes over the next two months during the call for evidence. We want to make sure Ministers hear our priorities on boosting economic ties with Turkiye, prior to and during the negotiation period beginning next year."