Turkey–United_Kingdom_Free_Trade_Agreement

Turkey–United Kingdom Free Trade Agreement

Turkey–United Kingdom Free Trade Agreement

Proposed free trade agreement between Turkey and the United Kingdom

The Turkey–United Kingdom free trade agreement (TUKFTA) is a proposed free trade agreement which began negotiations on 14 March 2024.[1] The trade agreement will be the third FTA to cover Turkey–UK trade, and will supersede the Turkey–UK Trade Continuity Agreement, extending the deal to cover services and digital trade.[2]

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History

From 31 December 1995 until 30 December 2020, trade between Turkey and the United Kingdom was governed by the European Union–Turkey Customs Union, while the UK was a member of the European Union.[3] Following the withdrawal of the United Kingdom from the European Union, the UK and Turkey signed a continuity trade agreement on 29 December 2020, based on the EU free trade agreement; the agreement entered into force on 1 January 2021.[4][5]

Negotiations

On 18 July 2023, Turkey and the United Kingdom announced their intentions start talks on a modernised free trade agreement; the agreement will supersede the goods-only Turkey–United Kingdom Trade Continuity agreement.[6] The UK opened up a trade consultation from 2 November 2023 and close on the 5 January 2024.[7][8] Trade negotiations formally opened on 14 March 2024.[1][2]

See also

References

  1. [1]
    Badenoch, Kemi (14 March 2024). "British businesses to benefit as UK launches new trade talks with Turkey". GOV.UK. Archived from the original on 14 March 2024. Retrieved 14 March 2024.
  2. [2]
    Partington, Richard (14 March 2024). "UK embarks on post-Brexit trade talks with Turkey". The Guardian. Archived from the original on 14 March 2024. Retrieved 14 March 2024.
  3. [3]
    "EU - Türkiye". World Trade Organization. Archived from the original on 24 April 2024. Retrieved 24 April 2024.
  4. [4]
    Truss, Elizabeth (29 December 2020). "UK and Turkey sign trade deal". GOV.UK. Archived from the original on 29 August 2023. Retrieved 26 February 2024.
  5. [5]
    Pitel, Laura; Payne, Sebastian (27 December 2020). "UK and Turkey to sign free trade deal this week". Financial Times. Archived from the original on 4 April 2023. Retrieved 26 February 2024.
  6. [6]
    Badenoch, Kemi (18 July 2023). "UK and Turkey to negotiate new trade deal". GOV.UK. Archived from the original on 18 July 2023. Retrieved 14 March 2024.
  7. [7]
    Huddleston, Nigel (2 November 2023). "Government calls on business expertise to boost trade with Turkey". GOV.UK. Archived from the original on 2 November 2023. Retrieved 2 November 2023.
  8. [8]
    "Badenoch to push for upgraded trade deal with Turkey during Istanbul visit". ITV News. 5 January 2024. Archived from the original on 5 January 2024. Retrieved 14 March 2024.

Media related to Relations of Turkey and the United Kingdom at Wikimedia Commons
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