The United Kingdom and Turkey commenced formal negotiations to upgrade their existing post-Brexit Free Trade Agreement, according to the UK Department for Business and Trade, Reuters, and the Anadolu Agency. The current agreement, which largely covers goods, is being modernized to include services, digital trade, and procurement. Officials noted that the upgrade aims to better serve the modern economies of both nations, particularly in tech, financial services, and green energy collaboration.

Simultaneously, India and Oman have finalized the text for their bilateral Comprehensive Economic Partnership Agreement (CEPA), as reported by Bloomberg, the Times of Oman, and The Economic Times on June 19, 2026. The agreement is expected to significantly reduce import duties on Indian exports such as petroleum products, textiles, and machinery. In return, Oman will gain improved access to the Indian market for petrochemicals and aluminum. The deal also includes provisions to facilitate professional mobility and investment in green hydrogen.

 

 

Furthering this trend of bilateral expansion, the United Arab Emirates and Colombia have completed the ratification process for their CEPA, according to WAM (Emirates News Agency), Bloomberg, and El Tiempo on June 24, 2026. Set to enter into force in the coming weeks, the pact will eliminate or significantly reduce tariffs on approximately 97% of non-oil goods. Key sectors expected to benefit include Colombian agriculture, specifically coffee, flowers, and fruits, alongside UAE petrochemicals, aluminum, and infrastructure investments.

 

 

These three agreements reflect a broader global shift toward modernizing bilateral trade relationships to encompass services, digital trade, and green energy. The UK-Turkey upgrade targets high-value sectors like financial services and technology, while the India-Oman and UAE-Colombia agreements emphasize non-oil trade, green hydrogen, and infrastructure. For businesses, these pacts offer reduced tariffs, enhanced investment protections, and improved market access across Europe, the Middle East, South Asia, and South America.

 

 

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