The following agreements have been replaced by the EU-Turkey Customs Union: the new Serbian-Turkish trade agreement was ratified yesterday by the Turkish Parliament and entered into force today. This new agreement allows Serbia to triple the export of certain products imported into Turkey duty-free. Rasim Ljajic said the new trade deal with Turkey would give a new boost to exports of Serbian products, with the expansion of the list of products while tripling the volumes for products that have already benefited from the same regime. The new free trade agreement allows Serbia to export 5,000 tonnes of beef, 25,000 tonnes of crude sunflower oil, 10,000 tonnes of refined sunflower oil, 15,000 tonnes of sunflower seeds, 5,000 tonnes of soybeans, 1,000 tonnes and 500 tonnes of bakery products destined for Turkey each year. Ljajic says. Serbian companies can export duty-free to Turkey. Imports of industrial products from Turkey are generally exempt from customs duties, but for a large number of goods, customs duties will be phased out over a period of six years, until 2015. For agricultural products, customs duties remain in force. Thanks to the new free trade agreement between the two countries, it will be possible for the first time to have duty-free export of 5,000 tons of beef per year from Serbia to the Turkish market, as well as the quotas defined for crude and refined sunflower oil, sunflower seeds and certain types of bakery products. Externally, Serbia can serve as a centre for the production of duty-free exports to a market of more than one billion people including the European Union, the Russian Federation, the United States, Kazakhstan, Turkey, South-Eastern Europe, the members of the European Free Trade Agreement and Belarus.
This duty-free regime applies to most important industrial products, with a few exceptions and to annual quotas for a limited number of goods. The agreement provides that products manufactured in Serbia, i.e. products that have at least 51% added value in the country, are considered to be of Serbian origin and exported duty-free to the Russian Federation. The list of products excluded from the free trade agreement is reviewed annually. From March 2012, the list of excluded products will be poultry and edible waste, certain cheeses, sugar, champagne, ethyl alcohol, tobacco, cotton yarn and fabric, certain types of new and used compressors, tractors and passenger cars. “The majority of the provisions of the agreement were established in previous rounds of negotiations and it remains only for experts to agree on six additional tariff lines,” Ljajic said. As Trade Minister Rasim Ljajic said this year, Serbia will have a free trade regime in its trade with Turkey, mainly for agricultural products. In particular, he said that the Turkish Parliament had authorized the annual import of 5,000 tons of beef, 35,000 tons of sunflower oil, 15,000 tons of sunflower seeds, 5,000 tons of soybeans, 1,000 tons of animal feed and 500 tons of pastries without customs duty.
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