IKV Chairman Ayhan Zeytinoğlu attended a working luncheon which was organised by TOBB Chairman M. Rifat Hisarcıklıoğlu in honour of the visit of UK Minister of State for Trade and Investment Lord Price on 24 January 2017. Representatives and experts from the business organisations were also present.

Following the opening remarks of TOBB Chairman M. Rifat Hisarcıklıoğlu, Minister Lord Price and UK Ambassador to Turkey H.E. Richard Moore also addressed the attendees. In the meeting where Turkey-UK trade relations along with the Brexit process were discussed, it was especially highlighted that bilateral trade should not be negatively affected from this process and that steps should be taken to further enhance existing relations.

As for Minister Price, he gave some information with respect to the Brexit process and underscored the need to leave any gap in the trade relations and stressed the need to strengthen them. Indicating that Turkey is a strong trade partner, Lord Price explained that there are important trade ties between the two countries and especially highlighted the importance of Turkey as a significant destination in terms of tourism.

Indicating that the United Kingdom is giving great importance to the issue of free trade, Lord Price expressed his alarm with respect to a growing trend of protectionist measures in global trade. Price insisted that free trade is helping people across the world escape from poverty and access cheaper and quality products. Furthermore, Price also reminded that the business world and the success of society are intertwined and added that 75% of taxes in the UK originate from business lines. Moreover, Lord Price reminded that he has visited 24 different countries where he had the opportunity to meet with ministers and businessmen and added that the British government is willing to deepen bilateral relations with Turkey.

TOBB President M. Rifat Hisarcıklıoğlu highlighted the critical importance of economic, trade and political relations between the two countries. Hisarcıklıoğlu further added that the United Kingdom has always been a staunch and relentless supporter of Turkey’s EU accession process and explained that bilateral trade relations had reached 16 billion dollars. Indicating that the UK is thus one of Turkey’s main trade partners within the EU, TOBB President Hisarcıklıoğlu also recalled that there are approximately 2,800 British companies operating in Turkey.

Noting that as the Turkish business world, they are following closely the latest developments with respect to the Brexit process, Hisarcıklıoğlu added the following:

“Is Brexit going to be hard or soft? What will be the steps that are going to be taken, and what course of action will be chosen?

We do know that this process will have tremendous effects regarding the future of the EU. As a result of the very existence of the Customs Union between Turkey and the EU, it will also have effects with respect to Turkey-UK trade relations”.

Following the opening remarks, representatives of the business world which attended to the working luncheon intervened. IKV Chairman Zeytinoğlu noted that IKV has been following closely Turkey’s EU process for the last 52 years and added that it constitutes a primary think tank and civil society organisation. Stressing that the UK constitutes a significant partner for Turkey, Zeytinoğlu explained that Turkey is following closely the Brexit process and further added that the new model which will be adopted by the parties will lead to significant results with respect to the very future of EU integration. Touching upon the importance of the modernisation process of the Customs Union, Zeytinoğlu indicated that the negotiations are scheduled to begin in 2017 and underscored that a renewed and modernised Customs Union and the inclusion of new areas such as agriculture, services and public procurement would have positive results regarding the strength and dynamism of the Turkish economy.