Erdogan's upcoming visit to Serbia to boost trade ties

Turkish, Serbian business communities expect amendments to free-trade deal to become official during president's visit

Erdogan's upcoming visit to Serbia to boost trade ties

World Bulletin / News Desk

Turkish and Serbian business communities have high hopes from President Recep Tayyip Erdogan’s upcoming visit to Belgrade on Tuesday.

Serbian Chamber of Commerce and Industry President Marko Cadez told Anadolu Agency that certain amendments to the free-trade agreement (FTA) between the two countries are on the cards during the visit.

"The amendments to the FTA were harmonized last week and will become official during the upcoming visit of the Turkish state and business delegation to Serbia," Cadez said.

According to the Turkish Statistical Institute (TurkStat), trade volume between the two countries has been continuously growing since the FTA was signed in 2009; it shot up to nearly $900 million in 2016 from $362 million in 2009.

But Cadez said there still remained “an enormous untapped potential in both countries”.

Further liberalization of trade in agricultural and food products will help increase bilateral trade, he said.

Turkey's export to Serbia stood at $442 million while its import from the country was more than $284 million in January-August 2017, TurkStat data reveals.

Turkish Foreign Ministry says Ankara sees Serbia as a key country for regional stability and supports its European integration process.

Güncelleme Tarihi: 08 Ekim 2017, 13:39