Since Brexit, the UK and Turkey have made a trade deal worth 25 billion dollars. Both countries are confident in the deal, with UK trade secretary expecting a “New, more ambitious deal in the near future.” Previously, about 75 percent of Turkish exports were tariffed, causing a loss of about 2.4 billion. The FTA agreement went into light on new year’s day, after Brexit caused the UK’s previous trade agreement to fall void. This FTA covers all non-agricultural products traded between the UK and Turkey. Finance professor Gulcin Ozkan says that this deal is a “huge relief” in the chances of no trade deal since the Brexit. Turkey believes that the Brexit will open more opportunities and territory between them and the UK.
This deal could positively model future ties between the UK and Turkey. Although trade agreements between them previously existed, the quick reissue and improving deals shows their confidence and eagerness to work together. Both countries did not hesitate to immediately set a FTA after Brexit. Their relationship makes sense, both countries have had decreasing relations with the EU. The UK is also one of the last remaining friends of Turkey in the “west”.
The push for FTA and peace is one of the pillars of liberalism, focus on trade. Trade promotes peace and makes conflict less likely, because countries will not want to disrupt an agreement that is financially beneficial. The Liberalist theory also believes that there are more important factors than power. The relationship between the UK and Turkey can be more described as “convenient” rather than for power. Both countries are declining relations with the EU, both want better financial ties, and both want to have “friends” in each other’s regions.