Turkish NGO organizes trade facilitation meeting between Türkiye, UK at House of Lords
Elimination of trade barriers between 2 countries, new opportunities for cooperation discussed at MUSIAD's roundtable
LONDON/ISTANBUL
The Independent Industrialists' and Businessmen's Association (MUSIAD), a leading Turkish non-governmental organization, organized a roundtable Wednesday at Britain’s House of Lords to facilitate trade between the two countries and to discuss mutual opportunities for cooperation.
Hosted by Baroness Uddin, a member of the House of Lords, the upper chamber of the British Parliament, the roundtable, titled "Business Without Barriers: Removing Obstacles in UK–Türkiye Trade,” was attended by over 10 members of parliament as well as businesspeople, investors and sector representatives from both countries.
Speaking at the meeting, where representatives of MUSIAD UK were also present, MUSIAD President Burhan Ozdemir said Türkiye is a strategic partner for the UK with its strong industrial infrastructure, production capacity and geographical advantages.
"Türkiye is a natural bridge between Europe, Asia and the Middle East. We combine this advantage with production, exports and entrepreneurship," he said.
Noting that MUSIAD represents approximately 35% of Türkiye's trade and industrial production with more than 14,000 members and more than 60,000 companies, Ozdemir emphasized that making the Free Trade Agreement (FTA) between the two countries more inclusive is vital not only for trade but also for long-term strategic cooperation.
"When the UK'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 MUSIAD, we are ready to actively contribute to this process," he said.
- ‘Bilateral trade volume can increase by 25%’
MUSIAD UK Chairwoman Tukan Akbas highlighted that the current FTA only covers trade in goods and that the exclusion of areas such as services, investment protection, public procurement, digital trade and mutual recognition of professional qualifications from the agreement is particularly challenging for small- and medium-sized enterprises (SMEs).
Explaining that the complexity of visa processes, inequality in access to public tenders and obstacles in mutual service provision cause the economic potential between the two countries to remain below its maximum potential, Akbas made the following assessments.
"In 2024, bilateral trade reached £27.8 billion ($38 billion). With comprehensive modernization, this figure could increase by 25%. The UK's financial and digital strength combined with Türkiye's manufacturing capability can build a much stronger economic architecture."
"The scope of the FTA should be expanded and the negotiations should be completed quickly for human mobility, knowledge sharing and a trust-based partnership between the two countries.”
- Evaluations made by many businesspeople and members of parliament
Türkiye's Ambassador to the UK, Osman Koray Ertas, delivered the opening speech at the event, where British MP and UK Trade Representative to Türkiye Afzal Khan emphasized the need to make trade more inclusive.
Ozlem Bacak, General Secretary and Trade Investment Advisor of MUSIAD UK, said that the modernization of the FTA is an environmental as well as economic necessity and that green production, environmental standards and circular supply chains should be included in the scope of the agreement.
During the meeting, the chairman of the APPG Türkiye Friendship Group, Tahir Ali, an MP for Birmingham Hall Green and Moseley, Selim Sar, chairman of the MUSIAD Overseas Organization Commission, Ulker CEO Ozgür Kolukfakı, Director of HSBC Global Trade Solutions Stephanie Betant, Chairman of MUSIAD UK Sectoral Boards Batuhan Bajdaroglu and strategy and finance consultant Conor Clifford Murphy evaluated the cooperation opportunities between the two countries.
