Us Turkey Trade Agreement

Us Turkey Trade Agreement

Turkey, as a contracting party to the WTO General Agreement on Tariffs and Trade (GATT), implements free trade agreements in accordance with Article XXIV of the 1947 GATT. This article allows Turkey to give its trading partners favourable treatment within the framework of a customs union or free trade area, without extending this treatment to all WTO members, subject to certain conditions. Turkey was one of 120 countries participating in the GSP, the oldest and largest trade preference program in the United States. The aim is to promote economic development in the beneficiary countries and territories by removing tariffs on thousands of products. Like Graham, economists believe that a free trade agreement could work for the interests of both countries. The EU has decided to focus on bilateral trade agreements as an instrument for boosting growth, with the introduction of its new “Global Europe” trade strategy in 2006. In line with this strategy, the EU has begun negotiating free trade agreements with specific provisions on services, investment, public procurement and intellectual property rights, in order to increase/maintain its competitiveness in global markets. Turkey is preparing for such an environment. After starting and starting negotiations in parallel with the EU, Turkey is also adapting to all the issues covered in the agreements and negotiating next-generation free trade agreements with its potential partners. In today`s world, countries tend to enter into bilateral and regional free trade agreements, as the World Trade Organization (WTO) has achieved a high level of liberalization, with insufficient WTO rules under current conditions and an inefficient multilateral trading system to allow better market access. As a result of this trend, some 400 free trade agreements are being notified to the WTO. It describes the bilateral and multilateral trade agreements to which that country belongs, including with the United States.

Includes websites and other resources that allow U.S. companies to get more information about how they can use these agreements. WASHINGTON (Reuters) – The United States ended Turkey`s preferential trade treatment on Thursday, allowing some exports to enter the country duty-free, but halved its tariffs on Turkish steel imports to 25 percent.