UK initiates trade talks with Turkey for new treaty post-Brexit

The United Kingdom has commenced talks with Turkey regarding a new trade treaty following Britain's exit from the European Union, hoping to provide new opportunities, particularly in the services sector.

Secretary of State for Business and Trade Kemi Badenoch and her Turkish counterpart, Omer Bolat, officially launched the negotiations in London.

A statement by the British Ministry of Trade stated that 'the future agreement replaces the current settlement, largely negotiated in the 1990s.'

The ministry highlighted 'tremendous opportunities' considering that 'Turkey is one of the fastest-growing economies in the Organization for Economic Co-operation and Development (OECD) and has a population of 85 million. ' 

It affirms that the United Kingdom and Turkey maintain' a robust economic relationship,' with trade amounting to approximately £26 billion in 2022.