Expanded Türkiye-UK trade deal to boost digital services

The fifth round of Türkiye-UK negotiations on an expanded free trade agreement concluded in Ankara last month, officials said on Monday, paving the way for deeper economic ties in digital trade, legal services and investment. Negotiators launched the talks in March 2024 to establish a more comprehensive pact replacing the existing agreement that took effect after the UK left the European Union.

Expanded trade framework

The fifth round, held in Ankara from June 15-23, addressed digital trade, telecommunications, investment and market access alongside horizontal issues including intellectual property, public procurement and sustainability. Bilateral trade volume between the two nations surged 4.3% year-on-year to reach £28.4 billion ($38 billion) by the end of 2025.

Officials plan to hold the sixth round of negotiations this autumn as both sides seek to finalize the enhanced accord, according to the joint statement.

Services and investment

Chris Gaunt, chairman of the British Chamber of Commerce in Türkiye, told Anadolu the negotiation process represents a highly positive step for deepening trade across various sectors. "Türkiye has always been a priority market for the UK," Gaunt said, noting the primary intention is to expand cooperation in financial and professional services.

He expressed hope that agriculture, education, advanced engineering and technology would come into play through the new agreement. Incorporating the UK's extensive experience in financial services will significantly strengthen Türkiye's service sector, he added.

Strategic platform

Addressing geopolitical challenges, Gaunt pointed out that regional conflicts inevitably affect inflation and the cost of living in both countries. British companies remain keen to increase commercial activities with Türkiye, working with Turkish firms to gain access to export markets across Central Asia, the Middle East and Africa.

Touching upon the digital economy, he highlighted the rapid growth of technology startups in Türkiye and observed that Turkish tech companies show strong interest in global expansion through strategic partnerships with the UK. "We tell them: 'Don't ignore Türkiye.' Türkiye's got enormous potential, and you don't want to get left behind," Gaunt said.

Climate conference outreach

Gaunt further noted that Türkiye stands out as a highly competitive market due to its strategic location, urging stakeholders to focus on positive developments to navigate the current challenging period. "We have to be ahead of the game and ensure that we increase our market share in Türkiye and don't let other countries take our share," he said.

The chamber plans to organize side events in Antalya during the 31st UN Climate Change Conference, hosted by Türkiye. The new agreement provides UK companies with a broader understanding of the Turkish business ecosystem and helps them invest more efficiently, Gaunt concluded.