Turkiye-UK trade agreement may set international standard: Ambassador
The U.K. and Türkiye are strengthening their economic and strategic partnership, as evidenced by the recent updates to their free trade agreement (FTA). This modern, forward-looking agreement aims to broaden and deepen their economic partnership, opening up new opportunities for both countries.
The updated FTA includes reciprocal market openings, particularly for agricultural products, comprehensive provisions for trade in services, and exploration of opportunities in financial services, including Islamic finance. The scope also extends to innovation, digital trade, technology, sustainability, and climate-related industries.
In the realm of defense, Türkiye has signed a memorandum of understanding to become a Eurofighter Typhoon operator. This multirole aircraft, equipped with next-generation radar and enhanced air-to-air and air-to-ground combat capabilities, offers opportunities for both countries in terms of defense and security, as well as economic growth, with a third of the aircraft to be built within the U.K.
Looking ahead, the next round of negotiations is expected later this year, focusing on developing a roadmap for expanded cooperation, particularly in services and innovation-driven sectors.
Beyond defense and trade, there are growing opportunities for cooperation in offshore wind and next-generation nuclear power. Türkiye aims to install 5 gigawatts (GW) of offshore wind capacity by 2035 and advance its first nuclear power plant in Akkuyu. The U.K., with its expertise in offshore wind, sees potential for "world-beating" results through collaboration with Türkiye.
Kenan Poleo, the British consul general in Istanbul and the U.K.'s trade commissioner for Eastern Europe and Central Asia, highlighted these opportunities in a recent interview. He mentioned the possibility of collaborating with Türkiye to develop a regulatory framework for exploring novel and innovative forms of nuclear power.
For Türkiye, this partnership could mean a leapfrog in offshore wind capabilities through a partnership with U.K. companies. Turkish companies can find capabilities in the Offshore Renewable Energy Catapult in the north of England, a hub for innovation in offshore wind technology.
The U.K. seeks to expand its global trade network post-Brexit, while Türkiye aims to diversify its economic partnerships. With trade between the two countries currently exceeding £27 billion (approximately $36 billion), making Türkiye one of the U.K.'s largest trading partners, the potential for further growth is substantial.
As Poleo, the British consul general in Istanbul, prepares to complete his tenure in early 2026, he described his time in Türkiye as a personal and professional high point. The updated FTA is a testament to the strong and growing relationship between the U.K. and Türkiye, serving as a "great example" for modern trade deals.
- The updated free trade agreement (FTA) between the U.K. and Türkiye expands opportunities in the business sector, particularly in agricultural products, services, financial services including Islamic finance, innovation, digital trade, technology, sustainability, and climate-related industries.
- In the health sector, there's a possibility of collaborating with Türkiye to develop a regulatory framework for exploring novel and innovative forms of nuclear power.
- The world of sports could potentially benefit from this partnership, as both countries aim to diversify their economic partnerships, with trade between the two currently exceeding £27 billion (approximately $36 billion).
- The defense sector has seen a significant development with Türkiye signing a memorandum of understanding to become a Eurofighter Typhoon operator, offering opportunities for both countries in terms of defense and security, as well as economic growth.
- In the realm of lifestyle, Turkish companies can find capabilities in the Offshore Renewable Energy Catapult in the north of England, a hub for innovation in offshore wind technology, giving Türkiye a chance to leapfrog in offshore wind capabilities.
