The new Free Trade Agreement
and the Agreement on Incentives and Protection of Investments
between Serbia and Turkey were signed on January 30 in Ankara by Deputy Prime Minister and Minister of Trade of Serbia Rasim Ljajic and Minister of Economy of Turkey Nihat Zeybekci.
The contents of the Free Trade Agreement were authorized during the official visit of Turkish President Recep Tayyip Erdogan's visit to Serbia in October 2017, and the signing creates conditions for ratification in the two countries' parliaments, and then for the implementation as well, it is said.
Thanks to the new Free Trade Agreement, duty-free export of 5,000 tons of beef a year
, as well as of the defined quotas
for raw and refined sunflower oil, sunflower seeds and certain types of baking products, from Serbia to the Turkish market will be enabled for the first time. The quotas for the export of certain types of frozen vegetables and prunes from Serbia to Turkey will also double.
During the meeting with Minister Zeybekci, Ljajic asked for the export of a certain amount of meat to the Turkish market to be enabled before the ratification of the Free Trade Agreement, to which the Turkish minister answered that an adequate legal basis would be sought for Turkey to accommodate Serbia's request.
The Ministry of Trade of Serbia estimated that the signing of the Agreement on Incentives and Protection of Investments created the conditions for the arrival of new investors from Turkey to Serbia, as it provided them with better business conditions.