Turkey Trade Agreements

For eFTA-Turkey trade statistics, see EFTA trade statistics tool The agreement covers trade in all fish and other seafood (Article 4 and Appendix II). THE EFTA states and Turkey grant duty-free access to imports of all fish and seafood. Turkey, a party to the 1947 General Agreement on Tariffs and Trade (GATT) and a member of the World Trade Organization (WTO) since 1995, implements free trade agreements in accordance with Article XXIV of the 1947 GATT. Under this article, Turkey could give its trading partners more favourable treatment within the framework of a customs union or free trade area, without extending this treatment to all WTO members, subject to certain conditions. Turkey is a member of the Euro-Mediterranean Partnership (Euromed) and should therefore conclude free trade agreements with all other Mediterranean partners in order to create a Euro-Mediterranean free trade area. The modernized EFTA-Turkey Free Trade Agreement was signed on 25 June 2018 and includes trade in products (industrial products, seafood and seafood and processed agricultural products), trade in services, protection of intellectual property rights, public procurement, competition, trade and sustainable development. In addition, the updated bilateral agricultural agreements between the various EFTA countries and Turkey are still part of the instruments for creating the free trade area. Article 16 of The Turkey-EC Association Council`s Decision 1/95 on the implementation of the final phase of the customs union provides, among other things, that Turkey will take the necessary measures and negotiate mutually beneficial agreements with the countries concerned. This page lists the free trade agreements signed by Turkey. [1] 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. [2] Describes the bilateral and multilateral trade agreements to which that country belongs, including with the United States.

Includes websites and other resources that allow U.S. companies to get more information about how they can use these agreements. In today`s world, countries tend to enter into bilateral and regional free trade agreements, as the World Trade Organization (WTO) has achieved a high level of liberalization, with insufficient WTO rules under current conditions and an inefficient multilateral trading system to allow better market access. As a result of this trend, some 400 free trade agreements are being notified to the WTO. One of the objectives of the agreement (Article 1) is to promote the harmonious development of economic relations between the contracting parties by extending mutual trade. The agreement contains provisions relating to the elimination of tariffs and other trade barriers, as well as other trade-related disciplines, such as competition rules, intellectual property protection, public procurement, state monopolies, state aid, payments and transfers. A joint committee was established to oversee the agreement. The parties recognize that economic development, social development and environmental protection are interdependent.

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