UK-Turkey trade volume reaches $37.6 billion

Trade between Turkey and the United Kingdom has reached approximately $37.6 billion (£28.4 billion), representing a 4 percent annual increase. David Reid, the British Ambassador to Turkey and Counselor for Trade for Eastern Europe and Central Asia, noted that the relationship has gained strategic depth across several sectors.

Key areas of cooperation include security, trade, investment, science, technology, and energy. There is specific potential identified for collaboration on small modular reactors within the energy sector. The United Kingdom aims to implement an updated free trade agreement to facilitate commerce and remove existing barriers for companies in both nations.

This economic growth follows recent strategic milestones, including a framework document for strategic partnership signed in April and a security and military cooperation agreement signed in July. Both nations continue to work closely as NATO allies amidst an increasingly challenging global environment.