Turkey–United Kingdom Free Trade Agreement
Proposed free trade agreement between Turkey and the United Kingdom
From Wikipedia, the free encyclopedia
The Turkey–United Kingdom free trade agreement (TUKFTA) is a proposed free trade agreement which began negotiations on 14 March 2024.[1] The trade agreement will be the third FTA to cover Turkey–UK trade, and will supersede the Turkey–UK Trade Continuity Agreement, extending the deal to cover services and digital trade.[2]
- Kemi Badenoch (until 5 July 2024)
- Jonathan Reynolds (until 5 September 2025)
- Peter Kyle (until 20 July 2026)
- Jonathan Reynolds (from 20 July 2026)
Turkey United Kingdom | |
| Type | Free trade agreement and economic integration agreement |
|---|---|
| Context | Trade agreement between Turkey and the United Kingdom |
| Negotiators |
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| Parties | |
| Language | |
History
From 31 December 1995 until 30 December 2020, trade between Turkey and the United Kingdom was governed by the European Union–Turkey Customs Union, while the UK was a member of the European Union.[3] Following the withdrawal of the United Kingdom from the European Union, the UK and Turkey signed a continuity trade agreement on 29 December 2020, based on the EU free trade agreement; the agreement entered into force on 1 January 2021.[4][5]
Negotiations
On 18 July 2023, Turkey and the United Kingdom announced their intentions start talks on a modernised free trade agreement; the agreement will supersede the goods-only Turkey–United Kingdom Trade Continuity agreement.[11] The UK opened up a trade consultation from 2 November 2023 and close on the 5 January 2024.[12][13] Trade negotiations formally opened on 14 March 2024.[1][2] The practical negotiations are scheduled for after the UK general election on 4 July.[14]
The first round of negotiations included discussions covered sustainability and collaboration, including women’s economic empowerment and labour rights, as well as the regulatory environments of both countries; talks were also held on trade in services, focusing on digital, financial, and professional business services.[6]
The second round of negotiations included discussions on digital trade, financial and professional services, and investment, while both sides also advanced talks on goods market access, environmental and labour standards, anti-corruption provisions, dispute settlement, and intellectual property, with productive initial discussions on trade remedies and regulatory practices helping to define future areas of cooperation and strengthen the basis for an updated trade agreement.[7][15]
