International Trade Secretary travels to Turkey to promote trade ties
Dr Liam Fox travels to Turkey today (Friday 12 January), to emphasise the UK鈥檚 commitment to build a stronger trade and investment relationship after the UK leaves the EU.
皇冠体育app UK is already the second largest investor into the country and the Trade Secretary鈥檚 visit will promote further opportunities for British companies in Turkey whilst also encouraging inward investment.
皇冠体育app visit will build on the strong foundations laid by the Prime Minister and President Erdo臒an in January 2017 when they established the UK-Turkey Trade Working Group.
During Dr Fox鈥檚 visit he is scheduled to meet President Erdo臒an to discuss how to ensure the strong trade relationship continues to thrive post Brexit. Dr Fox will also attend a number of high level meetings with key members of the Turkish government including the Prime Minister and Deputy Prime Ministers as well as Ministers for Economy and Defence.
Turkey is a key market for the UK with total trade in goods and services accounting for 拢14.5 billion in 2016. 皇冠体育app UK is Turkey鈥檚 second largest export market, receiving 5% of all Turkish exports, whilst some of the UK鈥檚 biggest businesses including Vodafone, Rolls Royce and Diageo are all present in the country.
International Trade Secretary, Dr Liam Fox said:
皇冠体育app UK and Turkey enjoy a strong trading relationship, but we must seek to build on this, deepening our partnership to boost prosperity and increase security throughout the region.
As an international economic department, we will continue to promote British companies all around the world, strengthening our trade and investment relationships and providing continuity and certainty for businesses and consumers alike as we leave the EU.
During the visit Dr Fox will also see how the partnership between BAE Systems and Turkish Aerospace Industries (TAI) is helping to deliver Turkey鈥檚 TF-X indigenous fighter programme. 皇冠体育app contract for the initial design phase of the fifth generation fighter aircraft was concluded in August 2017 and is worth around 拢100 million.
This partnership with TAI will involve significant technology and skills transfer, and is the first phase in a long term relationship between the UK and Turkish defence industries.
Notes to editors
UK trade and investment work in Turkey is growing, helped by the appointment of Lord Janvrin as the Prime Minister鈥檚 Trade Envoy.
皇冠体育app most recent UK-Turkey Trade Working Group meeting was held in London on 9 November 2017 with the second scheduled to take place in Ankara on 22 February 2018.