Last update: January 3, 2017 17:40

Azerbaijan-Turkey to Sign Preferential Trade Agreement

By Farid Malikov December 25, 2016

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Azerbaijan and Turkey will sign a preferential trade agreement, Nihat Zeybekci, Economy Minister of Turkey told reporters during the 6th meeting of economy ministers of the Cooperation Council of Turkic Speaking States held in Baku on December 21.

"The sides are currently working to finalize a list of preferential goods. The agreement is expected to be signed at the 6th meeting of the Azerbaijan-Turkey High-Level Strategic Cooperation Council, to be held in the first half of 2017," said the minister.

The preferential trade agreement between Azerbaijan and Turkey will be signed in accordance with a new economic roadmap, elaborated by Economy Ministry of Turkey.

The economic roadmap prepared stipulates to initiate preferential trade agreements with Azerbaijan and Kazakhstan in early 2017. Furthermore, Turkey plans to sign similar agreements with Ukraine, Mexico, Peru, Japan and Pakistan. Free trade agreements are expected to bring a decline in customs tariffs and help to increase mutual investments.

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