Serbia-Turkey free trade agreement
The agreement on free trade between Serbia and Turkey will come into effect on Wednesday.
Wednesday, 01.09.2010.
11:15
The agreement on free trade between Serbia and Turkey will come into effect on Wednesday. Its goal is to increase the volume of trade exchange between the two countries, particularly Serbia's export, and also open new possibilities for boosting production. Serbia-Turkey free trade agreement So far, Serbia has realized poor trade exchange with Turkey although that was the most dominant aspect of the two countries' economic cooperation in which Serbia always recorded a deficit. According to the data of the Serbian Chamber of Commerce (PKS), the Serbia-Turkey trade exchange in the first seven months of 2010 amounted to USD 219.2mn. In the period, Serbia's export to Turkey was doubled compared to the respective period in 2009 and amounted to USD 42.9mn, whereas the import from Turkey increased by 15.6 percent and totaled USD 176.3mn. The highest level of Serbia-Turkey trade exchange was recoded in 2008 and amounted to USD 476.7mn, though Serbia's export totaled only USD 45.1mn. In 2009, the import from Turkey was considerably reduced - by about 33 percent, while Serbia's export remained unchanged compared to 2008. The free trade agreement between Serbia and Turkey was signed at the Economic Summit in Istanbul on June 1, 2009, and ratified by the Serbian parliament on December 11, 2009. Turkey ratified the agreement on May 7, 2010.
Serbia-Turkey free trade agreement
So far, Serbia has realized poor trade exchange with Turkey although that was the most dominant aspect of the two countries' economic cooperation in which Serbia always recorded a deficit.According to the data of the Serbian Chamber of Commerce (PKS), the Serbia-Turkey trade exchange in the first seven months of 2010 amounted to USD 219.2mn.
In the period, Serbia's export to Turkey was doubled compared to the respective period in 2009 and amounted to USD 42.9mn, whereas the import from Turkey increased by 15.6 percent and totaled USD 176.3mn.
The highest level of Serbia-Turkey trade exchange was recoded in 2008 and amounted to USD 476.7mn, though Serbia's export totaled only USD 45.1mn.
In 2009, the import from Turkey was considerably reduced - by about 33 percent, while Serbia's export remained unchanged compared to 2008.
The free trade agreement between Serbia and Turkey was signed at the Economic Summit in Istanbul on June 1, 2009, and ratified by the Serbian parliament on December 11, 2009. Turkey ratified the agreement on May 7, 2010.
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