Serbian Minister of Trade, Tourism and Telecommunications, Rasim Ljajic Turkey’s Minister of Economy, Nihat Zeybekci have signed a Free Trade Agreement and an Agreement on Promotion and Protection of Investments in Ankara.
The text of the Free Trade Agreement was initialed during the official visit of Turkish President Recep Tayyip Erdogan to Serbia in October last year, and today’s signing creates conditions for the agreement’s ratification in the parliaments of the two countries, and subsequent implementation.
The new Free Trade Agreement between the two countries stipulates duty-free export of 5,000 tonnes of beef per year to the Turkish market, as well as the defined quotas for the export of raw and refined sunflower oil, sunflower seeds and certain types of bakery products.
The Agreement also stipulates double quotas for export of certain types of frozen vegetables and dried plums from Serbia to Turkey.
Signing of the Agreement on Promotion and Protection of Investments creates a prerequisite for the arrival of new investors from Turkey to Serbia, given that the document further improves the business environment for Turkish investors in Serbia.
Ljajic said that during his official visit in Ankara he also met with the Turkish Deputy Prime Minister Mehmet Simsek and Minister of European Affairs, Omer Celik.
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