“The free trade agreement is a new and special step in the relationship between Turkey and the UK,” Pekcan said at the ceremony. The United Kingdom is Turkey`s second largest export market. The MEASURES RELATING TO CHIEF and CDS have been amended to take account of the introduction of the trade agreement. This means that instead of a EUR1 or an ATR on CHIEF, you have to declare either one: a Turkish official hails the deal as the most important trade pact for Turkey since signing a customs union agreement with the EU in 1995. There is no doubt that trade will evolve if the parties sign a more detailed supplementary agreement accordingly, but we can still expect an acceleration in the volume of trade, continued investment and the emergence of new partnerships between Turkey and the UK during the year 2021. The UK-Turkey Free Trade Agreement defines how the new UK-Turkey trade relationship works. The Department of International Trade`s guidelines on trade with Turkey summarize the provisions of the agreement: the United Kingdom announced that this agreement was concluded immediately after the agreements with Japan, Canada, Switzerland and Norway. The fact that turkey`s name appears in 4 of the world`s leading countries represents a great source of prestige, as this agreement will promote the country`s potential to attract foreign investors. The government responded to the committee`s report by letter dated April 9, 2021. With a view to early consultation on an improved agreement, the government has committed to soliciting the views of stakeholders before starting further discussions with Turkey.
It said this would influence its approach to possible future negotiations. For trade between the UK and Turkey, companies do not need declarations from suppliers of commercial suppliers until 31 December 2021, when the goods are exported, but they must ensure that the goods comply with the preferential rules of origin of the agreement. Companies may be required to submit a supplier declaration retrospectively after this date. Concerns about the UK-Turkey free trade agreement have also been expressed outside Parliament. In January 2021, an article in Politico highlighted the concerns of British and Turkish trade unions. They called for a suspension of the agreement after raising concerns about Turkey`s treatment of civil servants and trade unionists. A UK government spokesman was quoted as saying: “There are no changes in the operational processes of importing into the UK from non-EU third countries, for example, prior notification is still required and checks continue to be carried out at border checkpoints. In early 2021, the COMPUTER systems used to facilitate the pre-registration of imports of plants and other regulated items will change from the current PEACH system to a new service building using IPAFFS technology. However, if you are a UK importer, you must continue to use the existing system until you are prompted to register for the new service. The timing and order of this migration ensures a smooth and orderly transfer between systems and gives exporters enough time to familiarize themselves with the new service. Trade between London and Ankara amounted to £18.6 billion in 2019, and the UK is Turkey`s second largest export market, mainly for precious metals, vehicles, textiles and electrical equipment. Although Turkey is not a member of the EU, it has a customs union with the EU, which means that the new agreement between Britain and Turkey could only be concluded after the Brexit agreement was concluded.
Turkey`s commitments to the EU through the EU-Turkey CUSTOMS UNION mean that the rules of origin must be aligned with the rules of origin provisions of the UK-EU trade agreement, and the protocol is therefore likely to be updated in the future. In 1600, an Anglo-Moroccan alliance was formed between England and the Ottoman vassal states of the Barbary coast.[6] The British defended the Ottoman Empire against Russia before 1914, notably during the Crimean War of the 1860s. [6] Given the official statements of the trade ministers of both countries and the fact that Turkish markets have already reacted positively to the agreement, I believe that the agreement between the two countries will have a positive impact in the foreseeable future. Previous trade relations between the UK and Turkey have been governed mainly by the EU-Turkey customs union and agreements on agriculture, coal and steel. Therefore, given the volume of trade between them, it was of paramount importance for the two countries to agree on trade arrangements after the United Kingdom`s withdrawal from the European Union. At a time when the whole world is grappling with problems of uncertainty and risk allocation, reaching such a fast, voluminous and effective agreement with the UK should be seen as a success for Turkey. “This paves the way for a new, more ambitious deal with Turkey in the near future and is part of our plan to put the UK at the heart of a network of modern deals with dynamic economies.” Turkey currently has free trade agreements in force with 21 different countries. However, the importance of including the United Kingdom in the list cannot be overemphasized, given the message it is sending to the global market. The free trade agreement signed between Turkey and the UK shows that the Brexit process, which has led to some uncertainty in 2020, will not lead to disadvantages in the long-term trade relationship between Turkey and the UK or have a negative impact on diplomatic relations between the two countries. On the contrary, this agreement is the first free trade agreement after the trade agreement that the UK signed with the EU after Brexit and shows that the alliance between the two countries remains intact.
It is one of many post-Brexit trade deals the UK government is pursuing with countries around the world, and came days after a trade deal was reached with the EU. I believe that what is much more important than the positive impact that this free trade agreement will have on strengthening trade relations between the two states is how it will signal a more stable and investor-friendly environment for foreign investors and companies, and thus pave the way for new opportunities in Turkey. .