Haberler      English      العربية      Pусский         Kurdî      Türkçe Delivering News and Insights Around the World Keltis
  En.Haberler.Com - Latest News
SEARCH IN NEWS:
  HOME PAGE 13/08/2020 19:41 
10.07.2020 13:42 News >> Turkey, UK 'Very Close' To Free Trade Deal

Turkey, UK 'Very Close' To Free Trade Deal

Turkish Foreign Minister Mevlut Cavusoglu says 2 countries are close to finalizing talks, according to Financial Times report.

Turkey and the UK are "very close" to signing a free trade agreement for the post-Brexit era, according to Turkish Foreign Minister Mevlut Cavusoglu.
An article by the Financial Times "ed Cavusoglu as saying negotiations between the two countries on a trade deal covering manufactured goods, agriculture, and services are "going very well and we are close to finalizing it."
Cavusoglu visited London on Wednesday to hold talks with Prime Minister Boris Johnson and Foreign Secretary Dominic Raab.
"If you look at the volume of our bilateral trade, 95% of it is industrial products, and we agreed on that . . . and 5% is agriculture and services," Cavusoglu said.
The daily underlined that the UK is Turkey's second-biggest trading partner after Germany with a trade volume of £18.8 billion ($23.7 billion) and more than 2,500 UK companies are operating in Turkey, including BP, Shell, Vodafone, Unilever, BAE Systems, HSBC, Aviva, and Diageo.
Turkey and the UK have been holding trade talks which gained speed after Britain's exit from the EU on Dec. 31, 2019, and the UK is getting ready to sign trade deals with a few third countries straight after the exit transition period, which is unlikely to be extended beyond the end of this year.
The article underlined that Turkey is a member of the EU customs union, meaning a deal with the UK "could be implemented only once Britain has secured an [exit] agreement with the European bloc."
The trade deal between the UK and has yet to be finalized, as the latest round of talks went ahead this week in London.
- $20B bilateral trade target
The article said: "If the two sides are unable to secure a deal by the end of the year, Ankara could face a dilemma over whether to push ahead with the agreement with Britain and risk breaching EU rules. Mr Cavusoglu acknowledged that would be a 'bizarre situation', while adding that the UK was a 'strategic ally'."
"We agreed already with the UK that in the post-Brexit era we will increase our bilateral trade; in volume we set a $20 billion [bilateral trade] target," Cavusoglu said.
The daily also said British officials from the UK's Department for International Trade said talks are "progressing well" and that International Trade Secretary Liz Truss and Trade Minister Ranil Jayawardena will meet their Turkish counterparts next week for talks.
Cavusoglu said Ankara is hoping to negotiate a separate immigration deal that would grant Turks special status when the UK implements new migration rules, according to the report.
"We have been negotiating two separate agreements, one is the FTA [free trade agreement], one is similar to the Ankara Agreement," said Cavusoglu, referring to a visa scheme pact for Turkish businesspeople predating Britain joining the EU.
On Wednesday, Cavusoglu said during the meeting with Raab and Johnson that they spoke on relations in the post-pandemic era, a bilateral post-Brexit free trade agreement, cooperation in tourism, health tourism, and the defense industry, as well as other international and regional issues, including Libya, Syria, and NATO.
He stressed in a briefing with Turkish reporters that Turkey and the UK would cooperate in many fields after Brexit, adding that "even if the UK departs from the EU, it will continue to be one of the most important parts of the European continent."
Cavusoglu said that along with the bilateral trade pact, they also took up the future of the Ankara Agreement to prevent Turkish citizens from getting caught in any possible Brexit fallout. -



        Latest News
No Replays For 2020-21 Season In FA Cup 18 minutes ago...
New season in Emirates FA Cup to start on Sept. 1.
Trump Hails Israel, UAE Agreement To Normalize Ties 18 minutes ago...
'HUGE breakthrough today! Historic Peace Agreement between our two GREAT friends,' says US president.
Turkish Stocks Down At Daily Close 18 minutes ago...
BIST 100 index falls 13.9 points from previous close, USD/TRY exchange rate stands around 7.3160.
Mauritius Pushes For Compensation Over Oil Spill Damage 32 minutes ago...
Oil spill from Japanese vessel off East African island nation has harmed endangered, exotic flora and fauna.
Trump Hails Israel, UAE Agreement To Normalize Ties 33 minutes ago...
'HUGE breakthrough today! Historic Peace Agreement between our two GREAT friends,' says US president.

 
      Top News
South Africa Reports 2,810 New Virus Cases, 259 Deaths South Africa Reports 2,810 New Virus Cases, 259 Deaths
PSG Reach Champions League Semifinals With 2 Late Goals PSG Reach Champions League Semifinals With 2 Late Goals
Capital Movements Affect Turkey Like Other Countries Capital Movements Affect Turkey Like Other Countries
Spain's Regions Mull Stricter Measures To Control Virus Spain's Regions Mull Stricter Measures To Control Virus
Turkish President Meets Anadolu Agency's Management Turkish President Meets Anadolu Agency's Management
Football: Dani Parejo Joins Spanish Club Villarreal Football: Dani Parejo Joins Spanish Club Villarreal
COVID-19: 'I Thought I'd Not See My Grandkids Again' COVID-19: 'I Thought I'd Not See My Grandkids Again'
Coronavirus Deaths Rise To Almost 19,000 In Iran Coronavirus Deaths Rise To Almost 19,000 In Iran
UN Calls For Rapid Formation Of Lebanese Government UN Calls For Rapid Formation Of Lebanese Government
US Calls For Probe Into Killing Of Cameroon Aid Worker US Calls For Probe Into Killing Of Cameroon Aid Worker