The signed protocol on amending the Preferential Trade Agreement between Azerbaijan and Turkey entered into force in the neighboring country.
Publika.az According to Report, the law on this was published in the “Official Gazette”.
It was stated that the law enters into force from the day of its publication.
It should be recalled that according to the updated version of the “Preferential Trade Agreement between the Government of the Republic of Azerbaijan and the Government of the Republic of Turkey” signed in Baku on February 25, 2020, the parties will make concessions to each other in the trade of the goods mentioned in the protocol.
Appendices indicate the base tariff rate or additional customs duty to which the reduction will be applied for each good.
In addition, according to the document, the number of goods for which customs duties will be mutually reduced within the framework of the Preferential Trade Agreement between Azerbaijan and Turkey is increased.
Thus, mutual preferential trade regime is applied to 15 types of agricultural and other goods of Azerbaijani and Turkish origin (cheese, tea, sugar, fruit and vegetable varieties, etc.). The purpose of the agreement is to reduce or eliminate tariffs on goods, eliminate para-tariffs and non-tariff barriers, expand and promote trade through the harmonious development of economic relations, create favorable conditions for fair competition, and create a predictable and secure environment for sustainable trade growth. .
In order to create favorable conditions for the growth of non-oil exports, regular measures are taken to develop trade relations with foreign countries. In this framework, in addition to the free trade agreements signed by our country with 10 countries that are currently in force, as well as the agreements regulating the areas of bilateral trade or trade-economic cooperation with many countries, a preferential trade agreement was also signed with the Republic of Turkey, one of the main trade partners of the Republic of Azerbaijan. Thus, the “Preferential Trade Agreement between the Government of the Republic of Azerbaijan and the Government of the Republic of Turkey” signed in Baku on February 25, 2020 was approved by Law No. 115-VIQ on May 31, 2020.
“The Protocol on Amendments to the Preferential Trade Agreement between the Government of the Republic of Azerbaijan and the Government of the Republic of Turkey was signed in Samsun on April 29, 2023. The implementation of the document will contribute to the realization of the goals of increasing the trade turnover with the brotherly country. in addition to concessions for, they will grant each other concessions in the trade of the goods listed in the annex to this Protocol. The base tariff rate or additional duty to which the reduction will be applied for each commodity is specified in these annexes. The 15 types listed in the annexes are industrial and other goods to be imported from Turkey to Azerbaijan and from Azerbaijan to Turkey. the concessions that will be applied to the goods under the preferential trade regime are indicated.This includes goods such as types of alcoholic beverages, semi-finished products, cardboard goods, packaging and wrapping equipment, various types of apparatus, etc.
In total, preferential import and export of 30 types of agricultural and non-agricultural, as well as industrial and other goods will be carried out within the framework of the preferential trade regime applied between Azerbaijan and Turkey after the Protocol enters into force. Also, the term of this Protocol provided for in Article 3 of the current Agreement is intended for a period of 10 years after the effective date of the concessions granted to the goods under the Agreement.
The Azerbaijan Milli Majlis approved the amendment to the agreement on July 6, 2023.
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