A Historic Day For Trade


Posted On: 13 January, 2021 In Blog

Friday 1st January wasn’t just the day for celebrating the New Year, it was also hailed as ‘historic’ by the Turkish Minister for Trade, Rushsar Pekcan, as the new ‘Brexit’ deal  that had been agreed a couple of months before, went into effect.

Ensuring a stronger partnership, which has been in force since Turkey’s 1995 Customs Union Agreement with the EU, the New Deal brings about deeper ties, plus a volume of around $15.1bn a year between the two countries, compared with losses of around $2.4bn had there been a ‘no deal’ scenario.

Pekcan was keen to elaborate further on the trade deal commenting that ‘We reached a tariff-free agreement, which includes all industrial and agricultural goods’ moving on to also say that she ‘hopes the deal will be reflected positively in bilateral investments’.

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