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Turkey starts free trade agreement negotiation with Britain

Xinhua, November 11, 2016 Adjust font size:

Turkey has started technical negotiations of a free trade agreement with Britain once it leaves the EU, Turkish Economy Minister Nihat Zeybekci said Thursday, local media reported.

"We have decided to bring online a wide-range trade deal between the two countries once Britain leaves the EU," Zeybekci told the parliament's planning and budgetary commission in Ankara.

He said that the scope of the agreement will be at least as wide as that of the Customs Union Agreement between Turkey and the EU, state-run Anadolu Agency reported.

Turkish officials previously pledged that Brexit would not affect Turkey's exports to the EU and Britain.

Turkey's government vowed after Brexit vote that it would continue to take steps to maintain and strengthen investment, trade and financial relations with Britain.

Turkey's exports to Britain totalled 10.55 billion U.S. dollars, while its imports from the country stood at 5.6 billion dollars in 2015, according to the Turkish Statistical Institute.

Turkey expects talks to resume in the first quarter of next year on updating its Customs Union Agreement with the EU, Zeybekci said.

The minister also announced the near completion of works for a special passport for Turkish exporters to expedite the visa process as part of new incentives. Endit