Bolat will meet tomorrow in London with the British Minister of Commerce Jonathan Reynolds and will address business representatives and investors at the opening of the Türkiye-English business forum and meet with Afzal Khan, the British sales representative Afzal Khan.
The Bolat and Reynolds meeting is held, economic and commercial relationships between the two countries, potential cooperation areas and trade will be increased to $ 30 billion this year.
The Türkiye-English Business Forum, which will take place with the participation of business representatives and investors of the two countries, will probably offer important opportunities for the evaluation of new cooperation opportunities and the establishment of connections that will further strengthen the cooperation between the business world.
Bolats meet with Khan is planned to tackle the current situation and future perspectives of economic and commercial relationships between the two countries with allies and strategic partners.
StA is updated
The aim is also to determine the roadmap to update the current free trade agreement (Türkiye-English Free Trade Agreement (StA)) and to expand its scope. It is stated that the expansion of the existing StA, which forms a solid basis for business world, will be a historical step in the development of economic and commercial relationships between the two countries.
In this context, it is planned to expand the FTA for service trade, investments and agricultural areas and to include comprehensive provisions in relation to horizontal rules.
The first step is taken by the signing of the technical obstacles (TTE) Morocco and chemicals and motor vehicles by the ministers Bolat and Reynolds. These sectors have around $ 7.4 billion with a trading share of 33 percent between the two countries.
The TTE Moroccan to be signed aims to promote compliance with the official compliance in technical regulations, standards and conformity assessment procedures. It was therefore aimed at creating a more trouble -free trade environment between Torkiye and Great Britain. Thanks to the reduction of technical obstacles, it is to ensure that trading with the goods protects faster, transparent and predictable and to protect public health, security and environmental protection standards at a high level. With the provision of cheaper, transparent and technical harmony for the companies of the two countries, it is planned to support and promote economic growth in both countries.
Trade between the two countries
The trading volume between the two countries exceeded 22 billion US dollars last year (22.1 billion US dollars).
England with 15.2 billion US dollars was the third most exported country.
In the same year, Torkiye imports were $ 6.8 billion. In addition, England was registered as the 7th largest investor country in 2023 by making a direct investment of 8.6 billion US dollars in Türkiye.
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