Türkiye, UK conclude first round of Free Trade Agreement renewal talks

The Turkish Ministry of Trade has announced that the first round of negotiations with the United Kingdom on updating their Free Trade Agreement (FTA) has been successfully concluded.

As reported by Turkish media, the ministry’s statement highlights that economic relations between Türkiye and the UK are advancing at a strategic level and have gained fresh momentum, Caliber.Az reports.

The negotiations were held in Ankara and involved senior officials from relevant ministries on both sides. The talks were described as highly productive, with discussions focusing on expanding the scope of the existing FTA.

According to the statement, the updated agreement is expected to unlock new bilateral opportunities, particularly in the export of agricultural goods. One of the central objectives of the revised FTA is the inclusion of comprehensive provisions that will foster a mutually advantageous environment for trade in services.

Significant emphasis is being placed on sectors such as financial services — including Islamic finance, healthcare, and the audiovisual industry, where Türkiye holds competitive strengths. The two countries are also exploring joint initiatives to ease investment processes and are planning to implement mutual recognition of geographical indications.

As part of efforts to streamline trade procedures, both conventional and digital customs operations will be simplified under the renewed agreement.

The statement underscores that both Ankara and London remain firmly committed to finalising the updated Free Trade Agreement at the earliest opportunity, keeping in mind the broader economic interests of both nations.

In 2024, the total trade volume between Türkiye and the UK reached $22 billion, with the UK ranking as Türkiye’s seventh-largest trading partner.

By Tamilla Hasanova