The Turkish Parliament has ratified the Free Trade Agreement between Serbia and Turkey. This created conditions for a greater number of products to be included in a duty-free trade regime between the two countries, Minister of Trade, Tourism and Telecommunications Rasim Ljajic said.
Owing to the new Free Trade Agreement, for the first time, Serbia is granted approval for the duty free annual export to Turkey of 5,000 tons of beef, 25,000 tons of raw sunflower oil, 10,000 tons of refined sunflower oil, 15,000 tons of sunflower seed, 5,000 tons of soy, 1,000 tons of products used for animal feed and 500 tons of certain bakery products, Ljajic said.
“In addition to the quotas for these new products, the agreement allows Serbia to double the current quotas for duty-free export of peas, beans, corn and prunes,” the minister adds.
Ljajic expressed expectation that the new free trade agreement will be a strong incentive to increase our export to Turkey and expand the volume of trade between the two countries, which exceeded one billion euros in 2018 for the first time.