Economy, Europe

Brexit with deal in favor of both Turkey, UK: Minister

Ankara desires to cooperate with UK in Middle East, Africa, Central Asia, Balkans and Far East, says Turkish trade minister

Tuba Şahin, Mehmet Alaca   | 18.06.2019
Brexit with deal in favor of both Turkey, UK: Minister

ANKARA 

Turkey will continue to enhance economic relations with the U.K. regardless of the latter’s exit from the EU with or without a deal, Turkish trade minister said on Tuesday.

Turkey expects Brexit with a deal, which would be favorable for both sides, Ruhsar Pekcan said at a forum in the capital Ankara.

Pekcan said her country desires to cooperate with the U.K. especially in the Middle East, Africa, Central Asia, the Balkans and Far East.

Speaking at the forum, Liam Fox, Britain’s secretary of state for international trade, said the ties between the two countries is deemed more important after Brexit.

Fox added that British companies are encouraged to invest more in Turkey.

U.K. aims to launch an independent trade system after leaving the EU, and Turkey will be an important partner to the country, he said.

Brexit is an opportunity and not a threat to the relations with Turkey, Fox said.

Rifat Hisarciklioglu, head of Turkey's Chambers and Commodity Exchanges Union (TOBB), said nearly $10 billion of the U.K.’s investments in Turkey is the most concrete indicator of confidence in the country's economy and future.

He underlined that Turkey and the U.K. are important trade and investment partners.

"We expect Brexit with or without deal will not have a negative impact on bilateral economic relations between Turkey and the U.K.," Hisarciklioglu said.

He called on the two countries to sign a free trade agreement, saying it will be the “best commercial model”.

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