UK hopes to double trade with Turkey

The new British White Paper, an official government document on investment and trade perspectives released on Wednesday, places crucial importance on trade with emerging and fast-growing economies, seeking to double British trade with Turkey by 2015. "We promote trade with Turkey," said a contributor to the report, issued by United Kingdom Trade and Investment (UKTI), adding that these goals are not for the short term. "The UK also has significant interests in other emerging powers," says the report. "We aim to double trade with Turkey and support its accession to the European Union." Turkey is in a customs union with the EU, the document notes. "The UK has long been a strong supporter of Turkey's membership of the EU, as a major emerging economy in Europe that is set to be Europe's second largest economy by 2050," it says. "Turkey is pro-trade and is seeking a series of bilateral trade deals, with a focus on Middle East and Caucasus markets. Turkey presents a significant opportunity and the UK is aiming to double current trade by 2015, from a base of 9 billion pounds," or $14.5 billion.