Royal Innovative: “FTA update will boost agricultural trade between UK and Türkiye”

  • 2023-12-15

Royal Innovative announced that it increased its business volume in UK-targeted agricultural product exports by 55% in the first 10 months of 2023, and predicts a significant growth in agricultural exports between the two countries next year.

CITY — Royal Innovative that mediates the export of agricultural products from Türkiye to the UK announced that it increased its business volume by %40 in the first 10 months of 2023. According to current data published as of the end of October, the United Kingdom (UK) ranks 3rd in Türkiye's total exports. Reminding that efforts are continuing to update the Free Trade Agreement (FTA) between the two countries, which entered into force on January 1, 2021, Boris Volfman, Founder of Royal Innovative said, 

“Among Türkiye’s total exports to the UK, which approached 10 billion dollars in the first 10 months of 2023, agriculture is slightly above 1 billion dollars. During this period, agricultural exports from Türkiye to the UK increased by nearly 5%. As a company that acts as a bridge between Turkish agriculture and the UK, in parallel with this growth we increased our business volume in the country by 55% in the first 10 months of the year. "With the possible update of the agreement, we expect a significant growth in agricultural exports between the two countries by the end of 2024.”

"Agricultural trade between the UK and Türkiye will grow"

Boris Volfman said that the current FTA between the two countries is important as it is the first of the free trade agreements signed with different countries after the UK's exit from the European Union.

“With the joint statement published in July, a mutual declaration of intent was made to start update negotiations. The scope of trade between the two countries is expected to be updated and expanded. While new areas are being added to goods trade, it is anticipated that there will be additional regulations that will increase the volume, especially in agriculture.”  he added.

“Türkiye is a candidate to become the UK's largest agricultural partner”

Stating that the country's export target for the end of 2026 is 302.2 billion dollars in the Medium Term Program prepared by the Presidency of Strategy and Budget, Boris Volfman said, “As one of the stakeholders of the agricultural sector in Türkiye, we have fulfilled our responsibility and will work to increase the share of agriculture in targeted exports. As always, we will be at the service of Turkish producers seeking new markets and UK citizens for their agricultural product needs, with our work to support the growth of agricultural exports, from locating farmers to quality control, from product selection to price negotiation, from packaging to logistics. "Türkiye is a candidate to be the UK's largest agricultural partner, both in terms of its climate and geographical location.”

Pointing out that fresh fruits and vegetables have an important place in Türkiye's agricultural exports and that the UK ranks 11th among the countries with the most exports in this field, Royal Innovative Founder Boris Volfman, concluded: 

“We also mediate the delivery of agricultural products grown all over Türkiye to the UK. “Export products that vary depending on the season include, for example, tomatoes, grapefruits, peaches, plums, pomegranates, avocados, carrots, oranges, persimmons and sweet peppers in the winter.”