Turkey and the United Kingdom signed a free trade deal on Tuesday (December 29), days before Britain formally leaves the European Union, to keep up the existing flow of goods.
The trade ministers of the two countries signed the agreement in a televised videoconference call. The agreement takes effect on Jan. 1, 2021, ensuring a quick transition after an existing deal ends at year end, Turkish Trade Minister Ruhsar Pekcan said.
The UK trade ministry said on Sunday the deal would replicate existing trading terms. The trading relationship was worth 18.6 billion pounds ($25.25 billion) in 2019.
British trade minister Liz Truss has said that she was hopeful a bespoke deal between the countries could be struck soon.
Last week, the UK clinched a narrow trade deal with the EU, its biggest trading partner.
(Reuters)
