Turkey, UK Begin Talks to Modernize Free Trade Agreement

Turkey and the United Kingdom have agreed to begin negotiations by the end of July to modernize and expand their Free Trade Agreement (FTA), building on a 2023 review that identified opportunities for improvement since the deal was carried over from the UK's exit from the EU. Recent meetings in London resulted in the signing of new agreements aimed at removing technical barriers, particularly in the motor vehicles and chemicals sectors, which together comprise a significant portion of bilateral trade. Both countries have committed to further cooperation, with plans to expand the FTA to include services, digital trade, investment, and selected agricultural products. The 8th session of the Türkiye–United Kingdom Joint Economic and Trade Committee (JETCO) will also be held in London later this year to comprehensively assess and strengthen trade relations. These steps are expected to deepen economic ties and facilitate easier market access, while reducing regulatory and bureaucratic obstacles for businesses. Overall, the modernization of the FTA aims to support growing trade volumes and bolster economic cooperation between the two nations.