The UK said economic relations with Ankara will gain momentum in the field of fintech, green energy, and telecom.
Improvement in trading business between Türkiye and the UK will see a leap following a new free trade agreement, whose negotiations will begin in 2024, according to Malcolm Offord, Minister for Exports.
Touching upon his visit to Türkiye last week, Offord said the current agreement with Ankara mainly covers industrial products.
“I see opportunities in many fields including telecom, financial services, and digital commerce,” said Offord. Expanding the scope of the agreement with Türkiye harbors serious opportunities, he added.
The trade volume between the two countries increased by 30% last year, and now its worth is £23.5 billion. Türkiye is one of the twenty giant trading partners for the UK, standing at 18th rank.
Referring to Türkiye’s young generation, Offord said those who adopted the digital economy are well-educated. This situation brings about new-generation businesses, according to him.
Last week, Istanbul hosted the international defense fair IDEF where cutting-edge defense products were showcased. The British minister who visited the fair pointed out the cooperation between companies in Türkiye ve the UK.
“British SMEs [in the defense industry] and Turkish manufacturers are very well connected,” Offord said. “I hope to see more investment from the UK in Türkiye.”
Breaking News Turkey with agencies
