A number one Turkish nongovernmental group (NGO), the Independent Industrialists and Businessmen Association (MÜSIAD), organized on Wednesday a roundtable at Britain’s House of Lords to facilitate commerce between the 2 international locations and to debate mutual alternatives for cooperation.
Hosted by Baroness Uddin, a member of the House of Lords, the higher chamber of the British Parliament, the roundtable, titled “Business Without Barriers: Removing Obstacles in U.K.-Türkiye Trade,” was attended by over 10 members of Parliament in addition to businesspeople, buyers and sector representatives from each international locations.
Speaking on the assembly, the place representatives of MÜSIAD U.Ok. have been additionally current, MÜSIAD President Burhan Özdemir mentioned Türkiye is a strategic associate for the U.Ok. with its robust industrial infrastructure, manufacturing capability and geographical benefits.
“Türkiye is a natural bridge between Europe, Asia and the Middle East. We combine this advantage with production, exports and entrepreneurship,” he mentioned.
Noting that MÜSIAD represents roughly 35% of Türkiye’s commerce and industrial manufacturing with greater than 14,000 members and greater than 60,000 firms, Özdemir emphasised that making the free commerce settlement (FTA) between the 2 international locations extra inclusive is important not just for commerce but additionally for long-term strategic cooperation.
“When the U.K.’s strength in service exports is combined with Türkiye’s growth potential in this field, it will be possible to produce mutual benefits in digital, financial and professional services. As MÜSIAD, we are ready to actively contribute to this process,” he mentioned.
MÜSIAD U.Ok. Chairperson Türkan Akbaş highlighted that the present FTA solely covers commerce in items and that the exclusion of areas comparable to providers, funding safety, public procurement, digital commerce and mutual recognition {of professional} {qualifications} from the settlement is especially difficult for small- and medium-sized enterprises (SMEs).
Explaining that the complexity of visa processes, inequality in entry to public tenders and obstacles in mutual service provision trigger the financial potential between the 2 international locations to stay under its most potential, Akbas made the next assessments: “In 2024, bilateral trade reached 27.8 billion pounds ($38 billion). With comprehensive modernization, this figure could increase by 25%. The U.K.’s financial and digital strength combined with Türkiye’s manufacturing capability can build a much stronger economic architecture.”
“The scope of the FTA ought to be expanded and the negotiations ought to be accomplished rapidly for human mobility, data sharing and a trust-based partnership between the 2 international locations.”
Türkiye’s Ambassador to the U.Ok. Osman Koray Ertaş delivered the opening speech on the occasion, the place British MP and U.Ok. Trade Representative to Türkiye Afzal Khan emphasised the necessity to make commerce extra inclusive.
Özlem Bacak, secretary-general and commerce funding advisor of MÜSIAD U.Ok., mentioned that the modernization of the FTA is an environmental in addition to financial necessity and that inexperienced manufacturing, environmental requirements and round provide chains ought to be included within the scope of the settlement.
During the assembly, the chairperson of the APPG Türkiye Friendship Group, Tahir Ali, an MP for Birmingham Hall Green and Moseley, Selim Sar, chairperson of the MUSIAD Overseas Organization Commission, Ülker CEO Özgür Kölükfakı, HSBC Global Trade Solutions Director Stephanie Betant, MÜSIAD U.Ok. Chairperson Sectoral Boards Batuhan Bajdaroğlu and technique and finance guide Conor Clifford Murphy evaluated the cooperation alternatives between the 2 international locations.
Source: www.dailysabah.com