On Thursday, Turkish Trade Minister Omer Bolat stated that Türkiye and the UK are working to strengthen their economic partnership as bilateral trade continues to rise.
Speaking ahead of the 8th meeting of the UK-Türkiye Joint Economic and Trade Committee (JETCO), Bolat said trade between Türkiye and the EU reached $233 billion last year, highlighting what he described as “strong and inseparable” economic ties between Türkiye and Europe, News.Az reports, citing Turkish media.
While the EU is Türkiye’s fifth-largest trade partner globally, Türkiye is the EU’s largest trading partner, he said.
Bolat said the JETCO meeting would include the signing of two agreements – the eighth JETCO Action Plan and a Mutual Recognition Agreement on Authorised Economic Operators.
He also said Türkiye would like the UK to join the Pan-Euro-Mediterranean Rules of Origin Cumulation process.
Bolat described relations between Ankara and London as an “unshakable alliance” across political, diplomatic and economic fields.
He said UK Prime Minister Keir Starmer’s visit to Ankara last October had played a “key catalytic role” in strengthening ties.
The minister pointed to Turkish Airlines’ agreement with Rolls-Royce and ongoing Eurofighter procurement discussions as developments expected to give a significant boost to economic relations.
“Turkish Airlines, in line with its goal of becoming one of the world’s largest fleets with 800 aircraft by 2033, signed procurement agreements with two major aircraft manufacturers. An agreement was also reached regarding Rolls-Royce engines. These agreements, including the construction of a major maintenance center in Türkiye, will further enhance bilateral trade. Likewise, the Eurofighter procurement issue will provide a major boost to Türkiye–UK economic relations,” he said.
Bolat also said the UK-Türkiye Free Trade Agreement, which came into force on Jan. 1, 2021, had added momentum to bilateral trade.
According to him, trade between the two countries has increased by more than $5 billion over the past four years, rising by $1.8 billion last year alone to reach $24 billion.
Trade targets of $30 billion in the short term and $40 billion in the medium term, announced during Starmer’s visit, were described by the minister as “exciting and absolutely achievable.”
Bolat said negotiations to expand the free trade agreement to include services, investment and e-commerce had been progressing successfully since June 2024, with joint public- and private-sector delegations involved.
He added that while occasional issues arise, they have so far been resolved through dialogue, expressing confidence that relations would continue to strengthen.
Bolat said that negotiations aimed at expanding the free trade agreement are ongoing, but that it would not be appropriate to make a prediction about when they will be concluded. “Both sides are determined and are continuing the negotiations constructively within a positive dialogue. The next (fourth) round of negotiations will also take place in February.”
Emphasizing that bilateral relations in the tourism sector are also quite strong, Bolat noted that British tourists rank among the top five visitors to Türkiye, adding that health tourism also contributes to these relations.
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