The UK and Türkiye have announced plans to start negotiations on a new free trade agreement. Both countries have been important trade partners since 1995 when the first customs agreement came into place. Since then, a lot has happened including Britain's exit from the EU, a global pandemic and new emerging economic blocs. But trade between the countries has only increased. The new FTA is said to be an update on the existing agreement which only covered goods. With the UK being the second largest service provider in the world, a modernised version of the deal might include an agreement on services, data and digital industries. The new deal is expected to come into effect at the beginning of next year. The two nations also enjoy strong defence ties. Turkiye is one of the main partners of the Airbus military aircraft built in the UK, while Ankara is a priority market for the UK arms unit. Guests: Ozan Ozkural Managing Partner of Tanto Capital Partners Maurizio Zanardi Head of School of Economics at University of Surrey
Source: TRTworld.com