By Şahin Vahap Fırat

In high-level meetings held in London 7 May 2025, Turkish Minister of Trade Prof. Dr. Ömer Bolat and UK Secretary of State for Business and Trade Jonathan Reynolds reached an agreement to initiate the first round of negotiations by the end of July 2025. The goal is to modernize and expand the scope of the FTA to better reflect today's trade realities.

The updated agreement aims to include not only goods but also services, digital trade, investments, and public procurement. This expansion will offer broader market access, reduced bureaucracy, and a stronger investment climate for businesses in both countries.

During the talks, the two sides also signed agreements on 'Technical Barriers to Trade' and sectoral annexes concerning the automotive and chemical industries—marking a significant step toward a next-generation trade framework.

The two countries also plan to hold the 8th meeting of the UK–Turkey Joint Economic and Trade Committee (JETCO) later this year in London. This event is expected to further outline the contours of the new agreement.

With a trade volume exceeding £19 billion as of 2023, UK–Turkey relations are poised to advance to a new level. For entrepreneurs and exporters, particularly in Scotland, this development opens new doors to both European and Eurasian markets.

Scotland Press will continue to follow and report on this landmark economic development.