The Conservative Party’s general election victory bodes well for both the Turkish and European economies, experts said on Friday.The Conservatives are committed to increasing trade with Turkey and boosting imports and exports.
The Conservative Party’s general election victory bodes well for both the Turkish and European economies, experts said on Friday.
The previous Conservative-Liberal Democrat coalition government had strongly supported Turkey’s bid for EU accession and the Conservatives are also committed to increasing trade with Turkey and boosting imports and exports, while reducing barriers and regulations.
The U.K. and Turkey are both NATO members and Prime Minister David Cameron has committed his government to a significant role in the alliance.
Economist Atilla Yesilada, of Global Source Partners in Istanbul, said: “The previous Conservative-led government had good relations with Turkey and vigorously supported Turkey’s bid for EU membership.”
“Moreover, there is a good chance that the new government will soften its stance on European Union membership.”
Such support would grant Ankara more flexibility in its negotiations with the European Commission, he said.
The Conservatives are committed to supporting exports and boosting manufacturing, Hanover, a London-based consulting firm, noted on its website.
It stated: “An active industrial policy has been a prominent feature of this government and the Conservative manifesto re-asserts this, promising to continue to invest in science, back our industrial strategies and make Britain the technology center of Europe.”
In a statement issued in March, Jeremy Clayton, a director in the Department of Business Innovation & Skills, said: “There is plenty of scope for U.K. exports to, and investment in, Turkey to grow significantly over the next decade.”
According to Carley Willis, an executive at U.K. Trade and Investment in Turkey, the possibilities for both countries to expand trade are considerable.
“Building a trusting relationship is a vital element,” Willis said in March. The new government can be expected to develop that relationship.
Nurullah KIRMACI / emlakcoulisse.com