TBCCI Update
UK – TURKEY FREE TRADE AGREEMENT SIGNED
The UK and Turkey, to further strengthen their economic relationship and to create a new climate for the development of trade and investment between the two countries, signed a Free Trade Agreement effective from 1st January 2021. A free trade area on industrial and agricultural goods was established to preserve preferential conditions relating to trade between the UK and Turkey, which resulted from the bilateral trading arrangements between the European Union and Turkey, and to provide a platform for further trade liberalisation and facilitation of trade between them.
See Guidance Summary for What the Agreement Includes, Tariff Rates on Goods, Tariffs Rate Quotas, Rules of Origin, Regulations, Services and Investment. Further notices about procedures for Exporting to Turkey will be made available shortly. See UK-Turkey Trade Agreement for the full text of the agreement.