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Turkey Trade Negotiations Update
14 March 2024
Type
Written Ministerial Statement
Department
Department for Business and Trade
At a Glance
Issue Summary
This statement discusses the launch of negotiations for a new, upgraded free trade agreement between the UK and Turkey.
Action Requested
The Department for Business and Trade has published strategic information on these negotiations, including objectives, consultation summaries, and economic assessments. The goal is to upgrade the existing outdated continuity agreement by reducing barriers in key sectors such as services and digital trade.
Key Facts
- Negotiations launched on Thursday 14 March 2024.
- Total UK-Turkey trade was £26 billion in goods and services in 2022.
- Existing agreement provides tariff-free access for 98.8% of UK goods exports to Turkey (2021).
- Around 8,000 businesses from the UK exported goods to Turkey in 2022; 6,800 were SMEs.
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Assessment & feedback
Summary accuracy