UK, Turkiye agree to start FTA upgrade talks in Ankara

15 Aug '24

1 min read

UK, Turkiye agree to start FTA upgrade talks in Ankara

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Turkiye will start talks with the UK to revise their FTA to strengthen economic ties, the former announced yesterday.
The updates are expected to extend the FTA's scope to include services and investments.
Turkish trade minister Omer Bolat and UK counterpart Jonathan Reynolds recently discussed ways to surpass $20 billion in bilateral trade this year.

Turkiye has agreed to start talks with the United Kingdom in Ankara to revise their free trade agreement (FTA) as both sides want to strengthen economic ties, the former announced yesterday.

Trade talks were paused during the election. The updates are expected to extend the FTA's scope to include services and investments.

The announcement followed a virtual discussion between Turkish trade minister Omer Bolat and UK business and trade minister and president of the Board of Trade Jonathan Reynolds.

Bolat described the discussion with Reynolds as productive, highlighting specific steps aimed at raising trade volumes, encouraging investment and deepening bilateral cooperation, according to domestic media reports.

He said both sides discussed ways to surpass $20 billion in bilateral trade this year.

The first round of negotiations is expected to take place in the autumn and would include fresh talks with South Korea, Israel, Switzerland and Turkiye.

Fibre2Fashion News Desk (DS)

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