Final Steps of the Trade Agreement Between England and Turkey

Final Steps of the Trade Agreement Between England and Turkey Final steps of the trade agreement between England and Turkey. UK Trade Minister Liz Truss, has announced the signing of trade agreements with Turkey is scheduled within a short time. After the first trade agreement was signed between Britain and the European Union (EU), Turkey is on the move to sign the first trade agreement with the UK. UK Trade Minister Liz Truss, reported that the signing of trade agreements with Turkey is scheduled this week. Making a statement on Sunday, Truss stated that the agreement will continue the existing trade relationship between the two countries in the same way. In her statement, Truss said, “The agreement we are planning to sign this week will maintain tax-free regulations and support our trade relationship. It will provide clarity for thousands of jobs in the UK like manufacturing, automotive and steel industries.” According to the data announced by the Ministry of Trade, the foreign trade volume between the two countries in 2019 was 16.3 billion dollars. In 2019, Turkey has obtained more than $ 5.4 billion for its trade with the UK. According to the Ministry's data, Turkey's most imports from England seems to be iron, steel and jewelery. On the other hand, most of Turkey’s exports to UK were motor vehicles, electrical machinery, knitted apparel and accessories.   Draft Agreement Statement from Minister Pekcan Underlining that they are monitoring the Brexit process closely, Trade Minister Ruhsar Pekcan said, “With the completion of the negotiations between the EU and the UK, we are following this process almost breathlessly, minute by minute, hour by hour so that we can put our own free trade agreement into effect.” In her statement at the 19th Advisory Board Meeting of the Ministry of Commerce, Pekcan pointed out that they made quite a lot of high-level contacts and held technical meetings on the issue and continued her words as follows: “Our own draft agreement is ready for signing. It has been declared that a compromise has been reached in principle between the UK and the EU. Of course, we could not sign a free trade agreement with the UK before the agreement (EU-UK) due to our obligations with the EU. We are following the developments, however, for the entry of Britain's free trade agreement with Turkey at the same time would force both parties regarding our synchronized to work. Our goal is to sign this deal as fast as possible. Our draft agreement is ready. Only 27 European Union countries of the EU Parliament needs to evaluate. How can we accelerate that process? We are negotiating with both the EU and the UK and continue our work. Actually, we are ready.”