UK targets Central Asian, African markets in partnership with Turkey

DAILY SABAH
ISTANBUL
Published

The U.K. Prime Minister's Trade Envoy to Turkey, Lord Janvrin, has said that they want to work together with Turkey in third markets, such as Central Asia and Africa, reports Turkish daily Habertürk.

Britain is Turkey's second largest export market with a volume of about $827 million. While the two countries aim to form a working group to strengthen their commercial relations following Brexit, it was noted that senior officials have initiated the projects for a free trade agreement with Turkey.

The trade envoy said they want to strengthen commercial relations between Turkey and the U.K. and added that the general political relations between the two countries were extremely important.

"We have close and deep ties. We can evaluate trade relations within this context. The U.K. has the world's sixth largest economy and we have very important trade-oriented programs," Janvrin continued.

"Turkey has a young population of 80 million, offering significant opportunities in terms of age. We are Turkey's second-largest trade partner, which also offers great opportunities for both sides. For this reason, it is very important to look at how we can improve trade between the two countries."

Pointing to London's many opportunities for foreign investors, Janvrin noted that it has significant opportunities for technology and venture capital funds.

He said that both individual and corporate taxes are being reduced and the U.K. government was offering significant incentives in those areas.

"We want to be the U.K.'s free trade champion," the envoy said. "This is the main focus we see in Brexit's progress, which means that we value both overseas investment and trade."

Noting that Turkey and the U.K. complement each other in many respects, Janvrin said they want to bring together their professional consulting services with the infrastructure construction sector that they deem important in Turkey.

He also highlighted that they can work together with Turkey's infrastructure companies in Central Asia and Africa.

"There is a lot we can do together. Of course, we have to get through the challenging Brexit negotiations now, but if we can go beyond this, we aim to open up to the world and become the pioneering representative of free trade at this point," Janvrin said, adding that they want very strong and commercial relations with Turkey.

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