Turkey and the UK must stand together as two independent trading nations to build a better, stronger and greener future after the pandemic, Britain’s minister for exports said Tuesday.
Speaking at Tech Week, organized online by the UK’s Department for International Trade in cooperation with Turkey’s Industry and Technology Ministry, Graham Stuart underscored the power of the partnership between Turkey and the UK in the fight against COVID-19.
“The Turkish government kept vital supplies and personal protective equipment flowing to the UK,” he said.
Pointing to trade relations between the two countries, Stuart noted that the UK remains one of the largest global investors in Turkey every year, with foreign direct investment between the two countries worth £3.4 billion as of 2019.
Saying that the UK is working closely with the Turkish government to ensure the attractiveness of Turkey as a location for UK investors, Stuart stressed that it is not one-way traffic.
“There are businesses such as on-demand delivery pioneer Getir who are leading the charge in the UK market. They recently secured investment of more than £93 million to help fund their expansion, starting off in London and aiming to go UK-wide later this year.”
He noted that it is crucial to continue to work together to support the two nations through free and fair trade.
“We have the ingredients for success as tech-loving partners. The Turkish people are hungry for the latest technologies, and natural entrepreneurs, innovators, as we can see from the highly competitive bustling tech scene exist in Turkey. Turkish mobile commerce and beacon technology are at an all-time high and showing no signs of stopping,” he added.
For his part, Turkish Industry and Technology Minister Mustafa Varank stressed that the event will be an important step for the further development and deepening of bilateral relations in the post-pandemic period.
Touting the government’s incentives to attract foreign investors, Varank said that “Turkey aims for cooperation with the UK in the fields of renewable energy and environmental technologies thanks to its cluster programs.”
The country is open to all kinds of international cooperation in achieving the new economy program targets for 2021-2023 such as open data, technological transformation and high value-add manufacturing, he noted.
Varank underlined that the ministry develops new mechanisms that facilitate fund-holder international investors to invest in technology-based early-stage initiatives in Turkey while inviting UK firms.
He highlighted that the EU accelerated work on its new strategy for the ecological and digital transformation of the industry.
“If we assess these developments well and take the necessary measures in time, we can turn this transformation into a great advantage.”
He stressed that strengthening cooperation in the fields of economy, science and technology is very important for maintaining the competitive position of Turkey and the UK in the EU market.