There are tremendous opportunities, as Türkiye has one of the fastest-growing economies in the OECD and is home to 85 million people. The UK and Türkiye have a robust economic relationship, with trade worth almost £26 billion in 2022. 

• UK launches talks with Türkiye on a trade deal targeted at the UK’s strengths as a services superpower 
• Trade Secretary Kemi Badenoch launched negotiations in London today alongside Turkish Trade Minister 
• UK negotiation objectives focused on creating new opportunities for UK businesses in Türkiye's growing market of 85 million people 

The new trade deal will replace our current one, negotiated mainly in the 1990s. It will focus on the UK’s strengths in services, which make up 80% of GDP. In 2020, 57,000 UK jobs were supported by exports to Türkiye - 68% of which were in services. 

Türkiye presents significant opportunities for British businesses, particularly in transport, engineering, financial services, manufacturing, and tech. These opportunities are driven in part by Türkiye's decarbonisation efforts and significant investment in rail. 

It’s the latest step in a UK trade strategy targeting trade pacts to boost our services industry exports. This strategy includes ongoing negotiations with Mexico and South Korea and MoUs with major US states, including Florida and Texas. 

Today, the Trade Secretary launched the talks in London alongside her Turkish counterpart, Minister for Trade, Ömer Bolat. 

Trade Secretary Kemi Badenoch said: 

“I’m delighted to be launching trade negotiations with Türkiye – an important economic and strategic partner to the UK. 

We already have a thriving trade relationship that will only get stronger with a new, modernised trade deal that is fit for the 21^st Century. 

An upgraded deal will give the UK’s world-leading services sector a competitive edge in this growing market and has the potential to support jobs across the UK.” 

The UK is the second biggest services exporter in the world – behind only the US – but services only made up 27% of our exports to Türkiye in 2022. The new trade deal could significantly boost UK services exports to Türkiye.

It could also give British consumers improved choices and better access to imported Turkish goods such as nuts, bulgar wheat, and tomatoes. 

UK businesses such as Deloitte, Diageo and Vodafone have helped to shape negotiation objectives through the public Call for Input, with the first round of negotiations due to take place in the summer. 

Managing Director, International at TheCity UK Nicola Watkinson said: 

"Turkey is a strategic gateway between the East and the West, offering vast opportunities for growth and innovation that UK businesses can leverage. An enhanced Free Trade Agreement with Türkiye that includes services and digital will open up new trade and investment opportunities for financial and related professional services, as well as laying the groundwork for more robust bilateral relations and a frictionless trade environment that benefits both nations.” 

Managing Director at Burgess and Leigh Ltd, Jim Norman said: 

“Burleigh is in the early chapters of its' exporting story to Türkiye, but we're already seeing strong demand opening up. A more open trade deal is going to help smooth that growth by reducing paperwork and delays. Burleigh's appeal comes from its provenance, heritage, and authenticity, which are appealing to Türkiye's discerning consumers, and particularly important in gift giving.” 

Background 

Since the UK and Türkiye announced plans to negotiate a new trade deal in July 2023, UK businesses have been sharing what they want to see as part of a deal to help shape negotiation objectives. 

The first round of negotiations will take place in the summer. 

Türkiye is a major supplier of goods such as vehicles, clothing, and electrical machinery to the UK, which is its fourth largest export market. 

In 2022, UK goods exported to Türkiye stood at £6.7 billion, including power generators and metals. 

In 2022, tens of millions of goods were exported to Türkiye from every UK nation and region, including £470 million worth from Wales, £530 million from the southwest, and £611 million from the east of England. 

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