Agreement Uk Turkey

Agreement UK Turkey: Everything You Need to Know

In the wake of Brexit, the United Kingdom (UK) has been working tirelessly to secure new trade deals with countries across the globe. One of the countries that has been on the UK’s radar for quite some time is Turkey. Turkey is one of the fastest-growing economies in the world, and a new agreement between the two countries could be extremely beneficial. In this article, we’ll take a closer look at the Agreement UK Turkey, what it covers, and what it means for businesses and individuals in both countries.

What is the Agreement UK Turkey?

The Agreement UK Turkey is a new trade deal that has been in the works since the UK left the European Union (EU) on January 31st, 2020. The agreement aims to create a closer economic partnership between the UK and Turkey by reducing trade barriers, such as tariffs and quotas. The UK and Turkey have had a long-standing economic relationship, with two-way trade of goods and services worth over £18 billion in 2019.

What does the Agreement UK Turkey cover?

The agreement covers a wide range of areas, including trade in goods, trade in services, and intellectual property. One of the key components of the trade deal is the elimination of tariffs on 95% of goods traded between the UK and Turkey. This means that businesses in both countries will be able to trade more freely, which could lead to increased economic growth and job creation.

In addition to the elimination of tariffs, the Agreement UK Turkey also includes provisions on sanitary and phytosanitary measures (SPS) and technical barriers to trade (TBT). SPS measures are regulations that aim to protect human, animal, or plant health from risks associated with the introduction or spread of pests and diseases. TBT measures are regulations that aim to protect human health and safety, the environment, or consumers from risks associated with products.

What does the Agreement UK Turkey mean for businesses?

The Agreement UK Turkey is great news for businesses in both countries. The reduction in trade barriers means that businesses will be able to trade more freely, which could lead to increased economic growth and job creation. The elimination of tariffs on 95% of goods traded between the UK and Turkey is a significant achievement and will make it easier and cheaper for businesses to trade with one another.

The agreement also includes provisions on services, which will benefit businesses in the UK and Turkey. The provisions on services aim to reduce barriers to trade in services, such as restrictions on the movement of people, and to improve access to each other’s markets.

What does the Agreement UK Turkey mean for individuals?

The Agreement UK Turkey is good news for individuals too. It could lead to lower prices for goods, as businesses are able to trade more freely and take advantage of economies of scale. The agreement also includes provisions on intellectual property, which will help to protect the rights of individuals and businesses in both countries.

In addition, the provisions on services will make it easier for people in the UK and Turkey to work in each other’s countries. This could lead to increased opportunities for people to travel and work abroad, which could be beneficial for personal and professional development.

Conclusion

The Agreement UK Turkey is an important trade deal that will create a closer economic relationship between the UK and Turkey. The elimination of tariffs on 95% of goods traded between the two countries is a significant achievement that will benefit businesses and individuals in both countries. The agreement also includes provisions on services and intellectual property, which will help to protect the rights of individuals and businesses. Overall, the Agreement UK Turkey is great news for both countries and could lead to increased economic growth and job creation.