06/11/2006

TURKEY-SYRIA FREE TRADE AGREEMENT

ANKARA (A.A) - 06.11.2007 - The content of the Free Trade Agreement, which was signed between Turkey and Syria in 2004, was published in Monday’s Official Gazette.

The agreement is expected to come into force as of Jan. 1st, 2007.

The agreement was signed during Turkish Prime Minister Recep Tayyip Erdogan’s visit to Syria on December 22nd-23rd, 2004.

Turkey will lift customs taxes on Syrian products as soon as the agreement comes into effect while Syria will do the same for Turkish goods in a 12-year transition period.

As for agricultural products, the parties will make reciprocal tax reductions for a series of products.

After the agreement takes affect, Syria will lift all bans and restrictions on imports from Turkey. (UK-ULG)