Free-trade area

Speaking to Politika daily, Ljajic said the existence of the 2006 trade deal was in doubt after Pristina's decision to introduce taxes and non-tariff barriers for Serbian goods.

Turkey and Thailand have commenced negotiations to sign a free trade deal, the economy ministers of both countries announced on July 19. 

Speaking at a press meeting in Ankara along with his Thai counterpart, Apiradi Tantraporn, Turkish Economy Minister Nihat Zeybekci said the planned free trade agreement (FTA) would boost bilateral trade by 40 percent. 

Protectionist trade policies may increase, rather than reduce, a country's trade deficit, the European Central Bank said in a study on March 22, just days after finance chiefs of the world's top 20 economies dropped their pledge for open trade.

Turkey will introduce an obligation for companies to use the Turkish Lira in transactions in the free trade zone, Economy Minister Nihat Zeybekci said March 9, in a move to reduce demand for U.S. dollars by $6 billion. 

The Regional Comprehensive Economic Partnership (RCEP), a trading bloc comprising 16 Asia-Pacific countries, has issued an ultimatum to India, saying that New Delhi should cut tariffs on most products as soon as possible or leave the talks on the proposed Free Trade Agreement (FTA).

The revision of the Customs Union between the EU and Turkey will provide an opportunity for the parties to overcome chronic problems such as visa issues and transport quotas, as well as enabling Turkey to build a solid foundation for new Free Trade Agreements (FTAs) that are becoming more important in EU trade policy, the Economic Development Foundation (IKV) in a note on May 13.