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In his speech, Pekcan called the agreement a milestone and recalled: With London’s secession from the European Union, it became necessary to redefine the trading system between Turkey and the United Kingdom. At the same time, he indicated that bilateral trade will continue in an efficient and carefree manner thanks to the current agreement.
The annual trade turnover between Turkey and the UK in 2019 was $ 16.8 billion. The Turkish minister said his first goal is for the indicator to reach $ 20 billion a year after the new coronavirus epidemic.
The United Kingdom withdrew from the European Union on January 31, 2020. On the day of its departure, a transitional period began until December 31, in order to allow time to agree on the terms of the future relationship between London and Brussels, in particular a free trade agreement. Last Thursday, a comprehensive agreement was reached between the two parties, within which a free trade agreement based on exemptions from tariffs, tariffs and quotas was concluded.
Cover image: Getty Images
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