UK-Turkey trade agreement could set global precedent, suggests Ambassador
The UK and Turkey are strengthening their economic ties, as evidenced by the recent milestone of Turkey signing a memorandum of understanding to become a Eurofighter Typhoon operator. This deal presents substantial opportunities for both countries, not only in defense and security, but also in economic growth. A third of these aircraft will be built within the UK.
Kenan Poleo, the British Consul General in Istanbul and the UK's Trade Commissioner for Eastern Europe and Central Asia, has described the current trade relations between the two countries as "huge" and growing significantly in recent years. Trade between the UK and Turkey currently exceeds £28 billion, making Turkey one of the UK's largest trading partners.
Poleo, who is set to complete his tenure in early 2026, has expressed satisfaction at improving his language skills in Turkish and has praised the growing strength of the UK-Turkey business relationship. He has highlighted partnerships that span sectors from health tech to aviation.
The updated UK-Turkey Free Trade Agreement (FTA) is currently in the negotiation phase. The first round of negotiations, which concluded positively, covered areas such as goods trade and sustainability. The upcoming negotiation rounds will focus on developing a roadmap for expanded cooperation, particularly in innovation-driven sectors including clean energy, advanced manufacturing, and mobility.
Poleo has identified offshore wind, clean energy, and nuclear power as key areas for collaboration between the UK and Turkey. He stated that the UK sees an opportunity to support Turkey's offshore wind and nuclear power ambitions with its global leadership in these areas.
The new agreement aims to deepen economic ties, address sustainability and labor rights, and unlock new opportunities for businesses on both sides. It is expected to serve as a "great example" for modern trade deals.
The British envoy, Poleo, has also mentioned an innovation ecosystem in offshore renewable energy, located in the north of England, and opportunities for the two nations to collaborate on developing a regulatory framework for novel and innovative forms of nuclear power.
The Eurofighter deal is just one example of the UK's commitment to strengthening its defense and security ties with Turkey. The Eurofighter is a multirole aircraft equipped with next-generation radar and enhanced air-to-air and air-to-ground combat capabilities.
As both countries aim to expand their global trade networks, the UK seeks to diversify its economic partnerships post-Brexit, while Turkey aims to diversify its economic partnerships. The UK Government and Anadolu Agency have both expressed optimism that the updated FTA could serve as a global example.
Poleo, who wakes up to a view of the Golden Horn each morning, described his time in Turkey as both a personal and professional high point. He has expressed his hope that the improved trade relations between the two countries will continue to grow in the future. The next round of negotiations is scheduled for autumn 2025.
- Poleo has highlighted partnerships that span sectors from health tech to aviation, indicating a broad range of business opportunities between the UK and Turkey.
- The updated UK-Turkey Free Trade Agreement (FTA) is currently being negotiated, with the aim to deepen economic ties, address sustainability and labor rights, and unlock new opportunities for businesses on both sides.
- The Eurofighter deal is a testament to the UK's commitment to strengthening its defense and security ties with Turkey, as the aircraft is equipped with next-generation radar and enhanced combat capabilities.
- Kenan Poleo, the British Consul General in Istanbul, has praised the growing strength of the UK-Turkey business relationship and has expressed hope that it will continue to grow in the future, especially in innovation-driven sectors such as clean energy, advanced manufacturing, and mobility.
