- Government invites business to shape UK objectives for fresh
trade talks with Turkey
- New, modernised trade deal could boost trade with top-20
trading partner and supports wide range of sectors including
services, tech and digital
- Trade Minister marks launch with visit
to Vodafone, one of the UK’s largest investors in Turkey
The UK has today [2 November] 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 £23.5 billion in 2022, making Turkey a top 20 trading
partner for the UK. In 2021, around 7,500 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The UK and Turkey have an existing FTA which is based on outdated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.
International Trade Minister will launch the Call for
Input on a visit to Vodafone’s Newbury headquarters. Vodafone is
one of the UK’s largest investors in Turkey.
International Trade Minister said:
“Trade deals are all about creating opportunities for businesses,
growing the economy and supporting jobs – that’s why it’s so
important businesses tell us what they want from them.
“Turkey is a great strategic partner and we already have a
thriving trading relationship – up more than 30% in the last year
alone. I’m incredibly excited to start upgrading our FTA, opening
up opportunities for growth and giving British businesses better
access to a market of some 85 million people.”
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.
Serpil Timuray, Vodafone CEO of Europe Cluster and UK Country
Representative for Turkey’s DEİK (Foreign Economic Relations
Board) DTİK (World Turkish Business Council) said:
“Vodafone is a leading investor in Turkey that has taken a
long-term outlook and contributed significantly to the country’s
digitalisation and economic progress during the last 15 years. A
new trade deal will drive greater opportunities for Vodafone and
other companies who have invested in Turkey, helping to foster
closer UK-Turkey relationships.”
The call for input will run from 10am on 2 November 2023 to 10am
on 5 January 2024 and will be available on gov.uk
https://www.gov.uk/government/consultations/trade-with-turkey-call-for-input.
Notes to Editors
- Turkey is a major supplier of goods to the UK, which is its
4th largest goods export market, in return for £6.4 billion of UK
goods exports.
- The Call for Input follows a joint review of our existing
FTA, which covers goods trade only, is based on outdated
provisions from the 1990s and is not tailored to the UK’s
strengths as a services superpower.
- The joint review concluded there would be value in expanding
its scope under a new agreement to expand trade ties and benefit
both economies.
- UK and Turkey Joint Statement can be found on
gov.uk: https://www.gov.uk/government/news/uk-tu3rkey-joint-statement-july-2023
