Turkey signs FTA with UK


Turkey’s Trade Minister Ruhsar Pekcan and British International Trade Secretary Liz Truss has signed the Free Trade Agreement (FTA) in a video conference call, and the agreement was scheduled to take effect on January 1, 2021.

Pekcan said that the agreement will ensure that the trade relations between the two countries won’t be affected by the UK’s Brexit, remove uncertainties of their trading activities, as well as continue the benefits gained from their 25-year customs union relationship.

Without the agreement, approximately 75% of Turkish exports to the UK would be subject to tariffs, and the losses will reach US$2.4 billion.

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