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October 2018
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Wednesday, 04 April 2018 17:05

Third part of negotiations will start between Turkey and Azerbaijan - Prime Minister of Turkey Featured

Third part of negotiations will start between Turkey and Azerbaijan - Prime Minister of Turkey

“We will start the third part of negotiations about the preferential trade agreement between Turkey and Azerbaijan on 13 April. I hope we will conclude it, duly”, Prime Minister of Turkey Binali Yildirim told Caspian Energy.

“The Agreement would expand gradually and extend to new areas of mutual interests and would strengthen Turkey and Azerbaijan’s close economic partnership. The Agreement will also bring economic and special benefits and improve the life standards of the peoples of both countries”, Prime Minister of Turkey said.

It bears reminding that the draft preferential trade agreement between Turkey and Azerbaijan implies to introduce (in 2018) a zero customs duty rate for mutual shipments of goods.

Turkey has already cancelled customs duties for 43 items (13 agricultural and 30 industrial) imported from the Nakhchivan Autonomous Republic.

According to the decision made by the Government of Turkey, goods worth $100mln and produced in Nakhchivan on annual basis will be brought into Turkey without payment of customs duties. 

According to the data of the State Customs Committee of Azerbaijan, the goods turnover with Turkey totaled $2.3 bln in 2016. This indicator will total $4.2bln this year.

 

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