British International Trade Minister Nigel Huddleston proposed signing a new and modernized free trade agreement between Britain and Turkey.
The ongoing free trade agreement between Britain and Turkey includes an order that dates back to Britain’s EU membership and covers only commercial goods. But Britain is demanding negotiations for a modernized free trade agreement suitable for 21st century needs, covering a broad spectrum of services, digital and technology.
British International Trade Minister Nigel Huddleston visited the headquarters of Vodafone Group, one of the largest investors in Turkey, and talked about the new trade agreement. Huddleston stated that trade agreements aim to provide opportunities to businesses and that trade relations with Turkey grew by more than 30 percent last year. He stated that the new agreement will increase growth opportunities and enable British businesses to access Turkey’s market of 85 million people more effectively.
Serpil Timuray, Vodafone Group Europe Regional CEO and Foreign Economic Relations Board (DEİK) World Turkish Business Council (DTİK) British Country Representative, said that the new trade agreement will create greater opportunities for Vodafone and other companies investing in Turkey and that the relations between the two countries will improve. He stated that it would contribute to its strengthening.
With a trade volume reaching 23.5 billion pounds in 2022, Turkey is among the 20 largest trading partners of the United Kingdom. It is stated that approximately 7,500 businesses that pay VAT in the United Kingdom, including leading brands such as Vodafone, export goods to Turkey in this trade.