Union of Chambers and Commodity Exchanges of Turkey

The meeting focused on Turkey-England trade relations and Brexit, focusing on increasing trade relations between the two countries in the process of the UK's departure from the EU.

Minister Price provided information regarding Brexit stating that first thing to do was to prevent any vacuum for commercial relations during the process and then to develop these relations even further. Emphasizing that they regard Turkey as an extremely strong trading partner, Lord Price stated that Turkey has important commercial ties with the UK and that Turkey is a very important destination especially in the field of tourism. 

Pointing out that he is a 33 year old businessman and runs a supermarket chain in the UK, the Minister stated that the UK will primarily set their own timetables. Price said that a new and comprehensive free trade agreement with the EU should be negotiated. He expressed that they would like to continue current trade practices with their EU partners. 

- Free trade allows prices to fall 

State Minister Responsible for Foreign Trade Policy Lord Price, who said they put great importance on the issue of free trade, lamented the increase of protective measures in world trade. Price stressed that free trade allows people lift themselves out of poverty and access cheaper and higher quality products. Price noted that 75% of the tax in the UK came from businesses, stating that business and community success is intertwined. Minister Lord Price also traveled to 24 countries, speaking with businessmen and ministers, adding that they wanted to deepen relations with Turkey.

- Trade relations reach 16 billion USD

TOBB President M. Rifat Hisarcıklıoğlu emphasized that economic, commercial and political relations between the two countries are always of critical importance. Hisarcıklıoğlu said that the United Kingdom always supports Turkey's EU accession process, while the level of bilateral commercial relations has reached 16 billion USD. Noting that these figures make UK Turkey's main trading partner in the EU, the TOBB President stated that there are about 2,800 British-origin companies in Turkey.

Stating that the Turkish business community is following the Brexit process with great curiosity, Hisarcıklıoğlu said, “Will this Brexit be a hard or soft exit? What steps will be taken; what will be the path to follow?

We know that it will have great impacts on the future of the EU. It will also have an impact on Turkey-United Kingdom trade relations because of the Customs Union between Turkey and the EU, "he said.

- Attendees

Attending the luncheon hosted at the TOBB Twin Towers by Hisarcıklıoğlu were Lord Price, Minister of State for Foreign Trade Policy in the UK, British Ambassador to Ankara Richard Moore, TÜSIAD President Erol Bilecik, TİSK President Kudret Önen, TOBB Board Treasurer and Ankara Commodity Exchange President Faik Yavuz, İKV President Ayhan Zeytinoğlu, MÜSİAD Ankara Branch Director İlhan Erdal, Vice President of Ankara Chamber of Commerce Mustafa Deryal, Ankara Chamber of Industry Secretary General Yavuz Cabbar, TÜGİAD Vice Chairman Efe Bezci, DEİK Coordinator Dilek Tuna and TEPAV Director Prof.Dr. Güven Sak.