Türkiye and UK Forge Expanded Trade Partnership

London, The Gulf Observer: The trade ministers of Türkiye and the UK convened to deliberate on the augmentation of their strategic partnership and explore avenues for heightened cooperation in various international domains. Their meeting aimed to strengthen bilateral ties, focusing particularly on initiatives to foster collaborative endeavors in multiple nations. This discussion reflects a mutual commitment to broadening the scope of their partnership beyond bilateral trade, extending efforts towards mutual interests on the global stage.

Turkish Trade Minister Omer Bolat and Kemi Badenoch, Secretary of State for Business and Trade of the UK, signed on Friday a Joint Economic and Trade Committee (JETCO) protocol and an MoU for collaboration with third countries.

The deals are expected to contribute significantly to the continued strengthening of commercial cooperation between Türkiye and the UK in the upcoming period, thereby enhancing the strategic partnership, Bolat wrote on X platform following the JETCO meeting held in Istanbul.

“We discussed the steps we will take to enhance the strategic and economic cooperation between our countries, the opportunities to improve our free trade agreement, collaborative possibilities in customs, and opportunities for cooperation, especially in the field of contracting in third countries,” Bolat said.

The two parties shared thoughts on strengthening communication among businesspeople, increasing joint investments, and deepening trade between Türkiye and the UK.

Türkiye’s bilateral trade volume reached nearly $19 billion in 2023, while the UK became the fourth-largest destination for Turkish exports with $12.4 billion.