Financial and business news from Bulgaria

Turkey, Britain sign free trade agreement

Turkey and Britain will sign a free trade agreement on December 29, Hurriyet Daily News reported, citing Britain's Ministry of Trade.
It would be the first such agreement the UK has concluded after reaching a trade deal with the European Union, BTA reports.

The two countries will sign an agreement that repeats the existing trade conditions between Ankara and London so far, but British International Trade Minister Elizabeth Truss said she hopes a special agreement between the two countries will be reached soon.

She said the agreement, which will be signed tomorrow, confirms the terms of duty-free trade and will provide certainty for thousands of jobs in manufacturing, automotive and metallurgy.

The exchange between Turkey and Great Britain was GBP 18.6 billion in 2019. According to London, this will be the fifth largest trade deal negotiated by the international trade ministry, following the agreements with Japan, Canada, Switzerland and Norway.

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