Turkey and Serbia sign Free Trade Agreement

Balkaninsight.com - Serbia and Turkey have signed a bilateral economic Free Trade Agreement at the annual economic summit held in Istanbul, which will take effect on January 1, 2010. The Free Trade Agreement signed by Mladjan Dinkic, Serbian Deputy Prime Minister and Minister of Economy and Regional Development, and Zafer Caglayan, Turkish Foreign Trade Minister, aims to widen economic borders between the two countries. In a bid to bolster trade relations with Serbia, Turkey is seeking to enable both countries to export or import goods without paying customs taxes - a key move in developing Serbian-Turkish business investments and promoting and sustaining commercial ties in a crucial time of global financial crisis. Serbia has plans to export all kinds of industrial products under the deal, while Turkey plans to focus on the Serbian agricultural, textile and metallurgical sectors.