The scope of the free trade agreement between Türkiye and the United Kingdom will be broadened, said Foreign Minister Hakan Fidan at a joint press conference with his British counterpart James Cleverly held in the capital Ankara Wednesday.
"We are about the finalize our preparations," he said, adding the goal is to diversify the bilateral trade volume, which reached nearly $20 billion in 2022. The current trade agreement was signed in December 2020.
He said they also discussed regional and international issues, including the Ukraine war, the restoration of the Black Sea Grain Initiative, and the Syria conflict.
Fidan stated that there is fruitful cooperation between the two countries in the field of tourism and that Britain has become the third country sending the most tourists to Türkiye.
Calling Türkiye an "indispensable partner," Cleverly for his part said ties with Ankara are crucial for the collective security and well-being of the United Kingdom.
"Our ties are stronger than ever. This year over 4 million British citizens are expected to your country," Cleverly said, and mentioned the role of the Turkish diaspora in the U.K. which is "adding to our prosperity and vitality."
Cleverly said trade between Türkiye and the U.K. is growing steadily, adding: "We have announced our intention to begin negotiations on a new enhanced free trade agreement to take up the opportunities of the 21st century to strike a deal that covers areas such as digital trade and trade in services."
Underlining that they also attach importance to cooperation with the U.K. in the defense industry, Fidan noted that in their meeting with Cleverly, they agreed to advance strategic cooperation in this field through concrete projects.
Touching upon the Türkiye-Iraq Development Road project the top Turkish diplomat said that Türkiye, Iraq, the United Arab Emirates (UAE) and Qatar are engaged in intense discussions over the matter.
He said recent geopolitical developments such as the COVID-19 pandemic, Russia-Ukraine conflict and competition between the U.S. and China have made new trade routes increasingly important.
Referring to the agreement for an India-Middle East-Europe Economic Corridor (IPEC) signed at the G-20 summit in New Delhi last week, Fidan said "there are doubts among experts" regarding its rationality and efficiency.
"It is noteworthy that geostrategic concerns play a significant role," he added.
"There is another economic corridor that came to the agenda in the G-20 meetings, and for which support was confirmed," Fidan said. It is the Development Road project that will start from the Gulf of Basra, and pass through Iraq, he added.
"Türkiye is currently busy with this project. Particularly Iraq, the UAE, Türkiye and Qatar are engaged in intense discussions on this matter."
He said President Recep Tayyip Erdoğan, especially in his meeting with UAE President Mohammed bin Zayed Al Nahyan, agreed that official paperwork on the project should be completed and put into practice within the next few months.
"We have conveyed this preliminary discussion to the Iraqi authorities as well," Fidan said.
