Britain and Turkey are expected to sign a free trade agreement on Tuesday December 29, according to a statement released by the UK’s secretary of state for international trade, Liz Truss, on Dec 27.
According to Truss, “The deal we expect to sign this week locks in tariff-free trading arrangements and will help support our trading relationship.”
“It will provide certainty for thousands of jobs across the UK in the manufacturing, automotive and steel industries,” Truss said in the statement.
The free trade agreement is expected to replicate existing trading terms between the European Union (EU) and Turkey until “tailor-made” UK-Turkey terms can be thrashed out.
British suppliers exported £456mn ($616mn) or 2.14mn mt of ferrous scrap to Turkey in the full year 2019.