Türkiye and the United Kingdom have set a goal of increasing their bilateral trade volume to $40 billion, Turkish Trade Minister Ömer Bolat announced following talks with British Minister of State for Trade Chris Bryant in Ankara.

The meeting, held at Türkiye's Ministry of Trade, focused on strengthening economic ties between the two countries and exploring new opportunities for cooperation across a range of sectors.

According to Minister Bolat, trade between Türkiye and the United Kingdom reached $24 billion in 2025, reflecting the growing economic partnership between the two nations.

“The trade volume between our countries rose to $24 billion in 2025. This figure demonstrates the strong potential and dynamism of our bilateral relations,” Bolat said.

During the talks, the two sides reviewed progress in negotiations to modernize the existing Free Trade Agreement (FTA), whose fifth round of discussions was held this week. Officials noted that the updated agreement is expected to make bilateral trade more competitive, integrated, and diversified.

Bolat emphasized that both Ankara and London share the objective of increasing annual trade to $40 billion in the coming years.

The meeting also addressed Türkiye-European Union relations, efforts to increase mutual investments, cooperation in the defense industry, strengthening ties between the business communities of both countries, and the implementation of joint projects in third countries.

Highlighting Türkiye's strategic advantages, Bolat said the country would continue to serve as a reliable partner for British businesses.

“With its strong production capacity, strategic location, and robust supply infrastructure, Türkiye will continue to be a reliable partner and a regional hub for British companies,” he said.

The Turkish minister added that both governments are committed to taking new steps aimed at expanding trade and investment flows while broadening cooperation into emerging sectors of the economy.

Officials from both countries described the discussions as constructive and noted that the growing economic relationship between Türkiye and the United Kingdom continues to be one of the key pillars of their broader strategic partnership.

The meeting concluded with an assessment of potential new areas of collaboration, as Ankara and London seek to deepen commercial ties and strengthen long-term economic cooperation. (ILKHA)