Ankara: Trkiye and the UK are seeking to deepen their economic partnership as bilateral trade continues to grow, Turkish Trade Minister Omer Bolat said on Thursday. Speaking ahead of the 8th meeting of the UK-Trkiye Joint Economic and Trade Committee (JETCO), Bolat highlighted the robust trade relations between Trkiye and the EU, which amounted to $233 billion last year.
According to Anadolu Agency - English, Bolat noted that while the EU ranks as Trkiye's fifth-largest trade partner, Trkiye is the EU's largest trading partner. The upcoming JETCO meeting is set to witness the signing of two significant agreements: the eighth JETCO Action Plan and a Mutual Recognition Agreement on Authorised Economic Operators. Bolat also expressed interest in involving the UK in the Pan-Euro-Mediterranean Rules of Origin Cumulation process.
Bolat described the relationship between Ankara and London as an 'unshakable alliance,' emphasizing the positive impact of UK Prime Minister Keir Starmer's visit to Ankara last October. This visit played a key role in enhancing the bilateral ties. Further, Turkish Airlines' agreement with Rolls-Royce and ongoing discussions on Eurofighter procurement are expected to significantly boost economic relations.
Turkish Airlines aims to become one of the world's largest fleets with 800 aircraft by 2033, and recent agreements with major aircraft manufacturers, including Rolls-Royce, are set to enhance bilateral trade. The UK-Trkiye Free Trade Agreement, effective since January 2021, has added momentum to the growing trade, with trade figures rising by more than $5 billion over the past four years.
Bolat mentioned that negotiations to expand the free trade agreement to encompass services, investment, and e-commerce have been progressing successfully since June 2024. He expressed optimism about the trade targets of $30 billion in the short term and $40 billion in the medium term, as announced during Starmer's visit.
The minister emphasized the strong bilateral relations in the tourism sector, with British tourists ranking among the top visitors to Trkiye, contributing significantly to the economic ties. He also highlighted that while occasional issues have arisen, they have been resolved through dialogue, showcasing the commitment of both countries to strengthening relations.
Bolat recalled the challenges posed by a major global trade war last year, which saw an increase in customs duties. Despite these obstacles, Trkiye's exporters of goods and services achieved historic records in 2025, with total exports nearing $400 billion. Bolat expressed confidence in achieving this milestone shortly, underscoring the resilience and growth potential of Trkiye's economy.