Turkey, UK to sign landmark free trade pact on Tuesday

Turkey, UK to sign landmark free trade pact on Tuesday
  • Clock-gray 00:18
  • calendar-gray 29 December 2020

Turkey and the UK are set to sign a landmark free trade agreement on Tuesday, Turkey's president announced after a Cabinet meeting, APA reports quoting Anadolu Agency.

The pact with the UK – coming days before Brexit’s transitional period ends – will be Turkey’s "most important trade deal" since its 1995 Customs Union with the EU, Recep Tayyip Erdogan said in the capital Ankara on Tuesday.

"A new era begins starting in 2021, one in which both Turkey and the UK will win," he said.

Erdogan also underlined that as of Dec. 25, Turkey's annual exports hit $166 billion, shooting past the country's targets for all of 2020.

"We are closing our current account deficit with high value-added investments and reducing our need for external financing," he said.

 

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