Turkey and UK to increase ties in trade

  Date posted: 11th of May 2012

It has been revealed that Turkey is to open diplomatic partners in Birmingham and Edinburgh to work in cooperation with the trade counsellor in London in an effort to increase trade and investment with the United Kingdom.

Reflecting on this decision, Yuksel Akca, head trade counsellor at the Turkish Embassy in London, said: “Thus, we will serve Turks, Brits and companies that wish to invest in Turkey in the north, centre, and south of the UK.” Turkey currently aims to increase the number of trade counsellors from 115 to 250 to stimulate more growth.

Last year, 15 percent of Turkish export trade was with the UK, making it the second biggest market for exports for Turkey. Akca said: “Despite all odds in the general economy, our exports to the UK rose by 20 percent in the first seven months of this year. For many industrial products, the UK stands as the number one market for Turkey.”

As part of Turkey and the UK’s continuing trade agreements, there will be a joint economy and trade meeting in Istanbul on September 9th between the two countries. The meeting will see more than 300 businesspeople from Turkey and the UK converse on different aspects of trade and economic ties between Turkey and the United Kingdom.

More ties between the UK and Turkey will be mutually beneficial for both countries. The UK is one of the world’s largest importers and exporters and Turkey is growing and developing at an unprecedented rate. The two countries having more connections will only lead to both countries seeing gains and increase an already fruitful relationship between the two countries.