London, March 14 (EFECOM).- The United Kingdom has begun negotiations with Turkey to try to secure another post-Brexit trade agreement, as revealed this Thursday by the British Trade Minister, Kemi Badenoch.
The Tory politician today welcomed her Turkish counterpart, Ombar Bolat, to London, whom she received with the aim of formally launching negotiations on a new updated trade agreement aimed at improving the United Kingdom’s access to the Turkish market.
The existing pact, signed in 2021, largely replicates the previous European Union (EU) agreement with Turkey that was negotiated in the 1990s, and the United Kingdom is now seeking to modernize it with an emphasis on the services sector.
“I am delighted to launch trade negotiations with Turkey, an important economic and strategic ally with the United Kingdom,” the British minister told local media today.
Benadoch recalled that this country already has a “flourishing trade relationship” with Turkey that “will only be strengthened with a new and modernized trade agreement that is suitable for the 21st century.”
“An updated agreement will give the UK’s world-leading services sector a competitive edge in this growing market and has the potential to support jobs across the UK,” he stressed.
Trade between both countries was valued at 26 billion pounds (30.44 billion euros) in 2022 and of British exports, only 27% of exported goods go to Turkey.
According to the British Ministry of Business and Trade, the new agreement could serve as a boost for the aforementioned sector, while British consumers would improve access to foods imported from Turkey, such as nuts, wheat and tomatoes.
For her part, Nicola Watkinson, the managing director of the commercial and financial services organization TheCity UK, indicated that Turkey is “a strategic gateway between east and west, offering enormous opportunities for growth and innovation that British businesses can take advantage of.”
Since leaving the EU, the United Kingdom has signed three trade agreements, with Australia, New Zealand and with a bloc of 11 countries in the Asia Pacific region through the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.
In addition, this country is carrying out other negotiations with other countries such as South Korea and Mexico while progress with Canada and the United States appears to have stalled. EFECOM
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2024-03-15 00:12:20
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