Türkiye and the United Kingdom have reaffirmed their goal of increasing bilateral trade to $40 billion, as Trade Minister Ömer Bolat and UK Secretary of State for Business and Trade Jonathan Reynolds held talks on expanding trade, investment and economic cooperation on the sidelines of the G20 Trade Ministers' Meeting in Milwaukee.

During the meeting, the two ministers reviewed efforts to deepen trade and investment ties, advance negotiations on an enhanced Free Trade Agreement (FTA) and strengthen cooperation between the business communities of both countries. They also discussed measures to make bilateral trade more competitive and better integrated.

Enhanced FTA negotiations advancing

Bolat said the fifth round of negotiations on the enhanced Türkiye-UK Free Trade Agreement, held this week, marked another step toward modernising the existing trade framework. Negotiations have covered areas including digital trade, investment, telecommunications, legal services, goods market access, sanitary and phytosanitary measures, intellectual property, public procurement and sustainability.

The minister noted that bilateral trade reached $24 billion in 2025, demonstrating the strong potential of the economic partnership. He said the completion of the FTA negotiations is expected to help both countries achieve the $40 billion bilateral trade target announced by President Recep Tayyip Erdoğan.

Focus on trade and investment

Bolat said Türkiye and the United Kingdom will continue taking steps to expand mutual trade and investment, facilitate business activity and encourage closer cooperation between companies in both countries.

The meeting formed part of a series of bilateral contacts held by Bolat during the G20 Trade Ministers' Meeting, where he has been discussing ways to strengthen Türkiye's economic partnerships and broaden international trade opportunities.(ILKHA)