Trade Agreement With Turkey

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“They need to step up efforts and focus on securing free trade agreements with public procurement,” he said. “It will be difficult to conclude a free trade agreement with the United States. Implementation of a free trade agreement with Turkey will be much easier and will have a much greater and faster effect.¬†Without prejudice to WTO provisions, the Turkey-EU customs union provides an important legal basis for Turkey`s free trade agreements. Within the framework of the customs union, Turkey is directing its trade policy towards the EU`s common trade policy. This harmonization concerns both autonomous regimes and preferential agreements with third countries. “We are working hard to explore all options to ensure continued trade.” – Ranil Jayawardena, UK International Trade Minister The parties recognize that economic development, social development and environmental protection are interdependent. In Chapter 7, they reaffirm their commitment to multilateral contracts and principles in the environment and work and commit to a level of protection by recognizing the right of each party to set its own level of environmental and labour protection. Arbitration procedures do not apply to this chapter. Ankara wants a “visionary approach” to trade with Britain, but a deal depends on a trade deal between the EU and Britain on Brexit. The agreement covers trade in industrial products, fish and seafood products and processed agricultural products. The transition period ended on January 1, 1999. In addition, bilateral agricultural agreements have been concluded between the various EFTA states and Turkey, which are part of the instruments for creating the free trade area. “We are currently working hard to explore all options to ensure continued trade,” said International Trade Minister Ranil Jayawardena.

“The UK and Turkey remain committed to reaching an agreement as soon as possible and I look forward to continuing to strengthen our ambitious trade and investment relationship as we work more closely together in the future. Chapter 9 contains the rules and procedures for preventing or resolving disputes between the parties regarding the interpretation or application of the agreement. This puts the UK in a difficult position. Britain makes considerable trade volumes with Turkey through the EU customs union. But when the transitional period of Brexit ends on 31 December, the UK will no longer be in that customs union. Turkey must respect the EU`s rules of origin and the bloc has so far refused to be flexible with the UK.