Behind the scenes of Brexit talks between the EU and the UK, the British government is trying through separate talks to speed up a trade deal with Turkey.
But Turkey, for its part, is bound by existing agreements it has made with the EU that bind it by not allowing it to enter a customs union with Britain after Brexit.
Turkey has been tasked with developing free trade agreements with Britain and other countries to upgrade its trade relations by promoting its products in other markets.
by Thanos S. Chonthrogiannis
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Photo by the website www.t-vine.com
The UK is the second largest trading partner (after the EU – Germany), with trade between them reaching £18bn for 2019.
Turkey’s exports of textiles and raw materials to the UK amount to £2bn, while agreements to make spare parts for British vehicles from Turkish factories are just as lucrative.
If new trade agreements between the UK and Turkey are not reached, there is a possibility of imposing tariffs on Turkish industrial and agricultural products.
Turkey is waiting to see what kind of trade agreement will be reached between the UK and the EU so that it can then implement a trade agreement of the same type between Turkey and the UK, which will naturally not affect the interests of European companies.
