Britain said on Tuesday it intends to start talks with Türkiye to update a bilateral free trade agreement between them, with the aim of including services and the digital sector in any future agreements.
Britain already has a free trade agreement with Türkiye, which extended when Britain left the European Union, but the British Department of Trade and Industry now says it is outdated.
The Department of Trade said that the two sides concluded, after reviewing that agreement, that there is room for improvement through a new agreement, but that the talks aren’t expected to start before next year.
The value of commercial transactions between the two countries reached 23.5 billion pounds ($30.7 billion) last year.
Business and Trade Secretary Kimmy Badenoch said Britain would take advantage of the talks to craft a new agreement in line with its economic strengths.
“I look forward to using the agreement to strengthen the UK-Türkiye trade relationship, drive economic growth and support businesses across the country,” Badenoch said in a statement.
The British government said it would listen to the companies’ priorities before starting talks.