The Turkey-UK Free Trade Agreement in Terms of Economic Diplomacy

Yiğenoğlu K.

INSIGHT TURKEY, vol.23, no.4, pp.193-212, 2021 (ESCI)

  • Publication Type: Article / Article
  • Volume: 23 Issue: 4
  • Publication Date: 2021
  • Journal Name: INSIGHT TURKEY
  • Journal Indexes: Emerging Sources Citation Index (ESCI), Scopus, Academic Search Premier, IBZ Online, International Bibliography of Social Sciences, ABI/INFORM, Index Islamicus, MLA - Modern Language Association Database, Political Science Complete, vLex, Worldwide Political Science Abstracts, TR DİZİN (ULAKBİM)
  • Page Numbers: pp.193-212
  • Van Yüzüncü Yıl University Affiliated: Yes

Abstract

This article scrutinizes relations between economic diplomacy and Free Trade Agreements (FTAs) by focusing on the Turkey-UK free trade agreements which came into force in 2021. Accordingly, the article first introduces the concept of economic diplomacy, an important issue as it has been shown that bilateral trade agreements, nowadays preferred by many countries, can be used as a tool of economic diplomacy. The article then discusses the history and development of free trade agreements signed by Turkey, including its long-running experience of economic integration with the European Union. Although Turkey began establishing free trade agreements in the 1990s, it has been concentrating on and accelerating its use since 2000. Based on economic and political reasons underlying the free economic agreements, the reasons why Turkey and the UK have reached such an agreement are summarized. Economic relations between the two countries are then analyzed and the details of the agreement are investigated in the context of the changes that it provides.