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The Government of the Republic of Serbia

In the service of citizens

Improving economic cooperation with Turkey

Belgrade/Istanbul, 27 August 2016

First Deputy Prime Minister and Minister of Trade, Tourism and Telecommunications Rasim Ljajic and Turkish Minister of Economy Nihat Zeybekci spoke today in Istanbul about the improvement of bilateral economic cooperation and further liberalisation of the regime of free trade between the two countries.

Ljajic said that sunflower oil should be included in the products that our country exports to Turkey under duty free regime.

He added that some countries of the region in this respect are in a privileged position since they export oil to the Turkish market duty-free, while the tariff rate for the Serbian oil exporters is 36%.

Ljajic and Zeybekci agreed to start as soon as possible the talks of expert teams of the two sides on further liberalisation of the free trade regime. They expressed the hope that the agreement will be made by the end of the year on the types of goods that will be included in the duty free regime between Serbia and Turkey.

They also agreed to hold a session of the Trilateral committee for economic cooperation of Serbia, Turkey and Bosnia-Herzegovina in October, when a trade and tourist office of Serbia and Bosnia-Herzegovina will be opened in Istanbul.

The two officials also discussed the possibilities for financial aid of Turkey in the realisation of some infrastructure projects in Serbia.