The UK government has launched a 'Call for Input' to gather views from businesses and the public on negotiation objectives for a new free trade agreement (FTA) with Turkey. The existing FTA between the UK and Turkey is based on outdated provisions from the 1990s and only covers goods. The UK aims to negotiate a modernized FTA that includes sectors such as services, tech, and digital. The Call for Input will allow businesses and individuals to shape the UK's negotiating aims and ensure that the updated trade deal aligns with the priorities of British businesses. The UK and Turkey have a strong trading relationship, with trade reaching £23.5 billion in 2022. The UK is seeking to expand trade opportunities with Turkey, particularly in sectors such as tech, manufacturing, transport, and infrastructure. A new FTA with provisions for services and digital trade could benefit UK businesses and give them a competitive advantage. The Call for Input will be open from November 2, 2023, to January 5, 2024.
Trade Minister Ömer Bolat of Turkey has expressed the country's aim to expand bilateral trade volume with Germany to $60 billion. Türkiye and Germany have multifaceted relations in various fields, from security to economy, and culture to science. Bolat highlighted the robust growth of the Turkish economy and the significant contribution of international investors, especially Germany. He called for the customs union between Türkiye and the EU to be updated, citing difficulties in the implementation process and the need for the inclusion of the service sector and investments. Bolat expects Germany to play an important role in renewing the customs union and starting negotiations for its modernization. The UK's efforts to negotiate a new FTA with Turkey and Turkey's aim to expand trade with Germany demonstrate the countries' commitment to exploring new trade opportunities and strengthening their economic ties.
[c9ddaef7] [c01154a2]