Türkiye and the UK have begun talks to modernise their Free Trade Agreement (FTA) at the Leadership Circle Networking Reception hosted by the European Turkish Brands Association (ATMB) and the UK Asian Business Council in London.

The event focused on UK–Türkiye trade relations, partnership opportunities, and new goals in new investment areas, while strengthening diaspora-based economic ties.

Turkish Ambassador to London Osman Koray Ertas stated that technical talks on updating the FTA are about to begin, with the support of Afzal Khan, a British MP, and the UK Trade Representative to Türkiye.

Ertas emphasised that the cooperation of the two powerful and influential NATO members will not only increase economic prosperity but will also contribute to Europe's overall security and stability, even though the two countries are not members of the European Union.

New milestone

ATMB President Vehbi Keles said the majority of Turkish businesses operating in the UK are managed by second- and third-generation leaders, and the FTA update could increase trade between the UK and Türkiye to $68.6 billion in the medium term.

Labour MP Tahir Ali, head of the UK-Türkiye Parliamentary Group, said that interest in Turkish businesses in the country is increasing, indicating that relations between the two countries may strengthen, and that over 400,000 people of Turkish origin live in the UK.

Afzal Khan noted that the updated FTA would be a new milestone in the UK-Türkiye diplomatic relations, which have lasted over 450 years.

According to Baroness Pola Uddin, a member of the House of Lords, combining Turkish craftsmanship and Asian innovation can create a new economic corridor.

Taha Coburn-Kutay, chair of the UK Asian Business Council, stated that Turkish brands need to be more visible not only in London but all around the UK, calling for new partnerships in Northern Ireland, Manchester, and Birmingham, saying the geographical diversity of the UK market offers great opportunities.