Turkey Vietnam Free Trade Agreement

The elimination of customs duties does not mean automatic access to the trading partner`s market: EU products must remain compliant with Vietnamese rules applicable to the automotive sector. The trade agreement contains an annex aimed at eliminating unnecessary non-tariff barriers in the automotive sector, which aims to facilitate trade. The annex will come into force in August 2023. Trade agreement removes tariffs on a number of important EU export products Turkey negotiates and concludes free trade agreements with third countries alongside the EU, in line with the global trend towards negotiating free trade agreements and its commitment to the customs union. Together with the EU`s Common Customs Tariff, preferential trade regimes are the most important part of trade policy towards third countries. In 2019, Vietnam had a positive track record in agri-food trade with the EU Çavuşoğlu found that they had agreed to start negotiations on free trade agreements with eight countries, including the United States. Recalling the $75 billion bilateral trade target set by President Recep Tayyip Erdoğan and US President Donald Trump, Çavuşoğlu said the potential of the two countries will achieve this goal as long as this free trade agreement is negotiated as soon as possible. The agreement improves the regulatory framework for implementation at all levels. Vietnamese authorities and customs officers will also benefit from increased powers and better anti-crime instruments. In 2006, the EU decided to focus on bilateral trade agreements as an instrument to boost growth, with the introduction of its new “Global Europe” trade strategy. In line with this strategy to increase its competitiveness in global markets, the EU has started to negotiate free trade agreements with specific provisions on services, investment, public procurement and intellectual property rights. Turkey is preparing for such a changing environment.

After starting or starting negotiations in parallel with the EU, Turkey is also adapting to the wide range of agreements and is negotiating new generation free trade agreements with its potential partners. For medicinal products/medicinal products and medical devices, the Agreement ensures the application of international standards, practices and guidelines developed by the Agreement. The following agreements have been replaced by the European Union-Turkey: in today`s world, countries tend to conclude bilateral and regional free trade agreements, given that the World Trade Organization (WTO) has achieved a high level of liberalization, WTO rules are insufficient under current conditions and the multilateral trading system is ineffective to allow better market access. As a result of this trend, there are about 400 free trade agreements that are notified to the WTO. Vietnam abolished 65% of its tariffs on EU products on the date of entry into force of the agreement. The rest will be phased out by 2030. Turkey, a Contracting Party to the General Agreement on Tariffs and Trade 1947 (GATT) and a member of the World Trade Organization (WTO) since 1995, implements free trade agreements in accordance with Article XXIV of the GATT 1947. Under this article, Turkey could grant, under certain conditions, more favourable treatment to its trading partners under a customs union or free trade area, without extending this treatment to all WTO members. The EU and Vietnam will protect well-known trademarks, in line with the recommendations of the Ministry of Promotion of Economic Growth, Social Development and Environmental Protection, which are three fundamental elements for sustainable development. . .


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