Free Trade Agreement Between Serbia And Turkey
Rasim Ljajic said the new trade agreement with Turkey would give a new impetus to Serbian exports by expanding the list of products, while tripling the quantities for products that have already benefited from the same regime. This page lists the free trade agreements signed by Turkey.  In 1995, Turkey signed a customs union with the European Union for products other than agricultural products and services. Since 2018, the EU has been Turkey`s main trading partner, with 50% of its exports and 36% of its imports.  Rasim Ljajic also announced that negotiations with the Euro-Asian Union (Russia, Belarus, Kazakhstan, Armenia, Kyrgyzstan) for a free trade agreement are about to be concluded, with the agreement most likely signed during Putin`s visit to Belgrade on 17 January./IBNA Serbian companies will be able to export to Turkey without tariffs. Imports of industrial products from Turkey are generally exempt from tariffs, but for many products, tariffs will be phased out over a six-year period, i.e. until 2015. For agricultural products, tariffs remain in effect. Trade with the United States is conducted under the Generalized Preferences System (GSP). U.S. trade advantages provide preferential duty-free entry for approximately 4,650 products, including most of the finished and semi-finished products, as well as certain agricultural and primary industrial products. Some sensitive products (for example. B most textile products, leather goods and footwear) cannot be exported duty-free.
The list of eligible products is reviewed and adjusted twice a year, using inputs from the U.S. industry. Ljajic also said he hoped the new free trade agreement would boost exports to Turkey and increase the value of merchandise trade between the two countries, which surpassed 1 billion euros for the first time in 2018. „In addition to quotas for new products, the agreement also allows Serbia to double quotas for duty-free exports of peas, beans, maize and plums,“ the minister added. The new Serbian-Turkish trade agreement was ratified yesterday by the Turkish parliament and came into force today. This new agreement allows Serbia to triple the export of certain products imported to Turkey duty-free. In addition to duty-free trade between Member States, the agreement sets the case for the accumulation of the origin of the product, in other words, products exported from Serbia are of Serbian origin when integrated materials come from another CTAE country, From the European Union, Iceland, Norway, Switzerland (including Liechtenstein) or Turkey, provided that these products have been sufficiently processed, i.e. at least 51% of the added value of the product comes from Serbia (if the value added is greater than that of the products used). „Most of the agreements have been drawn up in previous rounds of negotiations and it is up to the experts to agree on six additional tariff lines,“ Ljajic said.