UK, Turkiye sign new Joint Economic and Trade Committee Action Plan

The decision is part of a target to reach $40-billion in bilateral trade in the medium term and $30 billion in the short term. Bilateral trade rose by $1.8 billion in the past year alone, reaching $24 billion.

The signing was done during the 8th term meeting of JETCO in London attended by Turkish Trade Minister Omer Bolat.

Bolat met UK Secretary of State for Business and Trade Peter Kyle and discussed bilateral trade and economic cooperation, as well as new trade and investment opportunities.

“We will continue to maintain and strengthen our multifaceted cooperation with the United Kingdom in trade and investment, as in all other areas, and to work towards elevating our trade relations to the level of a strategic partnership,” Bolat said on microblogging platform X.

“I sincerely hope that the deep-rooted friendship between our two countries will continue to grow stronger in the economic sphere as well, yielding fruitful outcomes and contributing to our shared vision of sustainable development,” he added.

He also said significant progress had been made in negotiations to modernise the existing bilateral free trade agreement (FTA), which came into force in 2021.

ALCHEMPro News Desk (DS)