The Free Trade Agreement (FTA) between the Republic of Turkey and the Republic of Serbia was signed on 1 June 2009 in Istanbul and entered into force on 1 September 2010.
In order to improve the agricultural concessions and also to expand the coverage of the FTA into services, both Parties signed revised protocols on 30 January 2018 and they entered into force on 1 June 2019.
Under the FTA, both Parties eliminated customs duties on imports of all industrial products. In addition to eliminating tariffs and non-tariff barriers, the FTA also regulates many areas such as sanitary and phytosanitary measures, intellectual property, rules of origin, internal taxation, anti-dumping and countervailing measures, safeguards, and balance of payments measures.
Concerning agricultural products, Turkey and Serbia exchanged mutual concessions for certain products in the form of tariff quotas subject to MFN duty reduction or exemption. Reciprocal concession lists of agricultural products are laid down in Protocol I of the Agreement (Revised version - 1 June 2019.)
The products which will benefit from the preferential tariffs should fulfil the rules of origin set out in Protocol II of the Agreement and Protocol III of the Agreement covers trade in services.