Association Agreement Establishing A Free Trade Area Between The Republic of Turkey and the Republic of Lebanon was signed on 24 November 2010 in Beirut. The Agreement will enter into force following the completion of internal ratification procedure of Lebanon.
Upon its entry into force, this Agreement will replace “The Agreement on Commercial, Economic, Industrial, Technical and Scientific Cooperation between the Government of the Republic of Turkey and the Government of the Republic of Lebanon” which was signed on October 10, 1991.
With Turkey-Lebanon Association Agreement, tariffs and non-tariff barriers will be eliminated in trade between the Parties. The Agreement also regulates numerous areas including the sanitary and phytosanitary measures, intellectual property rights, internal taxation, balance of payments, anti-damping, safeguard measures, rules of origin and structural adjustment as well as listing specific areas for cooperation.
Concerning industrial products, customs duties and charges having equivalent effect on imports shall be abolished in accordance with the provisions of Protocol I of the Agreement.
With regard to the preferential regime to be applicable for agricultural goods, the Parties shall grant the concessions in unlimited tariff elimination or reduction and/or tariff reduction or elimination in the form of tariff quotas for the goods which are specified in Protocol II of the Agreement.
The products that will benefit from the preferential tariffs should fulfill the rules of origin which shall be provided in Protocol III of the Agreement.
The trade volume between Turkey and Lebanon was 1.02 billion US $ in 2017 with an increase of 25% compared to 2016. In 2017, imports from Lebanon were 131.2 million US $, whereas exports to Lebanon were 889.3 million US$.
Turkey has completed its internal ratification procedure on 30 April 2013.