Türkiye to update Free Trade Agreement with UK, strengthen Africa ties

Türkiye, achieving its highest-ever October export figures, is set to enhance its global trade relations.

The Ministry of Trade announced initiatives to deepen economic ties with several African nations and update its free trade agreement (FTA) with the United Kingdom.

Expanding Türkiye’s free trade network

Türkiye aims to expand its free trade agreements and strengthen its trade network:

• Finalizing the Preferential Trade Agreement with the Maldives
• Updating the Türkiye-United Kingdom Free Trade Agreement
• Advancing negotiations with the Gulf Cooperation Council (GCC) and Japan

These efforts align with Türkiye’s broader “Distant Countries Strategy,” targeting enhanced trade and economic cooperation with nations across Asia, the Middle East, Africa, and the Americas.

About two-thirds of Türkiye’s total exports go to countries that are relatively close to Türkiye. Türkiye’s average export distance remains below the world average. Distant countries account for 62% of the world’s population and contribute to 64% of global GDP.

With the Distant Countries Strategy, we aim to increase our exports to 18 countries, which was around USD 20 billion on average between 2018 and 2020, to USD 50 Billion in 2028 and to increase our share in the imports of these countries to 1 percent.

Within the context of the Distant Countries Strategy, trade in goods and services is viewed as complementary elements. The significance of the services sector on the global economy and its impact on exports of goods grows annually.

Turkish Ministry of Trade

Strengthened ties with Africa through high-level engagements

Türkiye plans to hold several Joint Economic Commission (JEC) meetings with African nations in 2025, including:

• Tanzania: Third round
• Nigeria: Sixth round
• Mauritania: First round
• Congo: Fourth round
• Chad: Second round

Additionally, Türkiye will host the fifth Türkiye-Africa Economic and Business Forum, focusing on increasing trade volume and fostering diplomatic and economic partnerships. High-level bilateral visits and exchanges with African countries will also continue.

Increased focus on trade promotion activities

The Ministry of Trade also highlighted plans to boost participation in trade fairs, organize trade delegations, and intensify promotional activities.