BREXIT EFFECTS ON TURKISH ECONOMY

Brexit will effect many sectors in the UK market. One of them is the botanics. Dutch producers who meet 80 percent of the needs of flower of England are worried about Brexit. Dutch flower producers, especially the producers of tulips warned the officials about the problems and delays in the border in the case of Brexit. After Brexit there will also be border and flower sanity controls on the table. This means there should be delays in deliveries. Currently, the Dutch flower producers can deliver the orders received until afternoon, in the following day morning to London. The Netherlands have an advantage with its location in Europe in terms of flower exports to European countries. However, because of the long life of flowers, other countries may want to get a share of the UK market. One of them is Turkey which gradually increases its production and exports in recent years. In the last 7-8 years, the tulip production in Turkey had a great momentum. Turkish exporters are telling they export more than 10 countries. In 2013 this number reached to the top to 55,6million. In the recent years it is going around over 40 million units. This potential of Turkey will be watched closely by the UK for sure. And will open a great new field for two countries’ trade range.
The United Kingdom is taking measures for Brexit in the country and taking steps to improve commercial relations abroad. In Istanbul, Turkey, UK-Turkey Business Forum was organized by British Chamber of Commerce and Industry (TBCCI) which was the 10th forum organized among the years to discuss the trade relations between the two countries. TBCCI Chairman Alderman Emma Edhem said “Brexit, economic and commercial relations between Turkey brings significant opportunities in the development of the spot with England. One of the main reasons for this is the fact that the UK will develop an independent commercial policy upon leaving the EU. In particular, the main objective of the UK is to improve our existing business and future business relations as much as possible. ”
Edhem continued his words saying that Turkey is one of the first countries that England established a working committee related to the economic relations after Brexit, and finished the words that the cooperations will strongly continue.
The U.K. wants to protect and increase its tradevolume with Turkey, the British Chamber of Commerce in Turkey (BCCT) Chairman Chris Gaunt told Anadolu Agency on Oct. 8.
The Turkish and British authorities are seeking to find a solution to issues that may arise in bilateral trade post-Brexit, Gaunt confirmed.
He said that the U.K. does not want to lose the current bilateral trade volume between the two countries of around £18 billion ($23 billion) but wants to strengthen its commercial relations with Turkey despite uncertainties over Brexit.
The BCCT is focusing heavily on Turkey, particularly for energy and technology trade. “We keep Turkey as very high profile,” Gaunt said.
To this end, the chamber has organized two conferences in the U.K. to be held by the end of the year to allow start-ups, Turkish companies and U.K. companies to meet.
U.K. Offshore wind farm technology has been targeted from the many potential investmentopportunities that they follow, Gaunt said.
The U.K. government has been promoting this technology and wants to bring it to Turkey, a sector that Turkey to date has not invested in.
“It is going to happen, whether it happens now or later. We have already committed to providing this sort of help and support to Turkey,” he asserted.
Solar storage technology is another target sector in which Turkey has huge potential.
He said that British companies with experience in developing storage for solar power are interested in looking for opportunities in countries like Turkey with strong solar potential.