The Free Trade Agreement (FTA) between the Republic of Turkey and the Kingdom of Denmark in respect of Faroe Islands was signed on 16 December 2014 and entered into force on 1 October 2017.
In addition to eliminating tariffs and non-tariff barriers, the FTA also regulates intellectual property rights, transparency, sanitary and phytosanitary measures, technical regulations, rules of origin and administrative cooperation, safeguard, anti-dumping and countervailing measures, institutional provisions and dispute settlement.
All customs duties and charges having equivalent effect in import of industrial goods between the parties will be eliminated upon the entry into force of the FTA.
In agricultural goods, the Faroe Islands will eliminate 94,7 per cent of the tariffs, and Turkey will eliminate 42,8 per cent of the tariffs for Faroese exports.
- The Free Trade Agreement (FTA) between the Republic of Turkey and the Kingdom of Denmark in respect of Faroe Islands