Turkey’s trade ministry ready to open new free trade agreement negotiations during Brexit transition process
Turkey’s Trade Ministry on Saturday announced it was seeking new trade channels with the U.K. during the Brexit transition period.
Brexit negotiations between the EU and the U.K. concluded on Nov. 14, 2018, and a deal was reached on the withdrawal of the agreement, which took place on Jan. 31, 2020.
With the U.K. having officially left the EU, the transition period is expected to end on Dec. 31, 2020.
“During this period, the U.K. will be treated as an EU member country in terms of trade, thereby maintaining its position as a Customs Union partner for our country within the same period,” the ministry said in a statement.
It added that during the transition period, a new trade agreement would be negotiated between the U.K. and EU to shape future relations.
The ministry said Turkey would open talks with the U.K. for a bilateral free trade deal through existing structures.