New Free Trade Agreement signed between Serbia and Turkey

Deputy Prime Minister and Minister of Trade, Tourism, and Telecommunications Rasim Ljajić has signed early today in Ankara, together with Minister of Economy of Turkey Nihat Zeibakch, a new Free Trade Agreements between the two countries, as well as the new Agreement on encouraging and protection of investments.

The text of the Free Trade Agreement was initialled during the official visit of Serbia by Turkish president Recep Tayyip Erdogan in October last year, and today’s signing will create the conditions for its ratification in the Parliaments of the two countries, and then for its implementation.

Потписан нови споразум Србије и Турске о слободној трговини

Thanks to the new Free Trade Agreement between the two countries, it will be possible for the first time to have the customs-free export from Serbia to the Turkish market of 5.000 tons of beef a year, as well as the defined quotas of raw and refined sunflower oil, sunflower seed, and certain types of bakery products.

It will also double the quotas for export of certain sorts of frozen vegetables and prunes from Serbia to Turkey.

Потписан нови споразум Србије и Турске о слободној трговини

During the meeting with Minister Zeibekchi, Mr Ljajić asked to have export of certain amounts of meat to the Turkish market even before the ratification of the Free Trade Agreements. Mr Zeibekchi expressed the understanding for this request, adding that they will search for a relevant legal grounds, so that this request made by Serbia could be realised.

Signing the Agreement on encouraging and protection of investments creates the precondition for the arrival of new investors from Turkey to Serbia, since the mentioned document additionally improves the environment for business of Turkish investors in our country.

During his stay in Ankara, Mr Ljajić has met with the Deputy President of Turkish Government Mehmet Shimshek, and with the Minister for European Affairs Omer Chelik.