The Turkish economy could lose billions of dollars if Britain does not reach a deal with the European Union before March 29 as Turkey exports many products to the United Kingdom via an EU customs union agreement that Ankara signed with Brussels in 1995. Turkish companies would face import tariffs and delays at the British border after a possible no-deal Brexit. According to Mustafa Gültepe, Head of the Istanbul Apparel Exporters Association, the textile sector could lose $2 billion annually in the same scenario.

Britain and Turkey have been discussing future bilateral trade agreement to keep the deals intact to minimise disruption for importers and exporters after March 29, but have not yet reached a deal.