Employees at a factory in Hanoi, Vietnam, making shoes for export. – REUTERSPIXBritain on Tuesday announced it had signed an £18.6 billion trade deal with Turkey that"lays the groundwork" for a more comprehensive post-Brexit agreement in the future.
The British government called the deal with Turkey, which largely replicates the current trading relationship, a"major win for UK automotive, manufacturing and steel industries". US auto giant Ford welcomed the announcement, with European president Stuart Rowley calling it"extremely significant". Andy Burwell, director at business lobby group CBI, said Turkey's deep trading relationship with the EU meant an agreement was"complicated". But the"pace at which the deal has been finalised... shows the strength and depth of the relationship", he said.
Trade between Vietnam and Britain has risen by an average of 12% a year over the past decade to reach US$6.6 billion last year, and the deal will help boost Vietnam's exports of garments, footwear products, rice, seafood and wooden furniture, it said.