A preferential trade agreement between Azerbaijan and Turkey has entered into force
In order to create favourable conditions for the growth of non-oil exports, regular measures are taken to develop trade relations with foreign countries. In this context, in addition to the agreements concluded by our country with 10 countries and currently in force that are regulating free trade, as well as bilateral trade or trade and economic cooperation, the work has also been completed on the signing and entry into force of a preferential trade agreement with the Republic of Turkey, one of Azerbaijan's main trading partners.
Thus, the "Preferential Trade Agreement between the Government of the Republic of Azerbaijan and the Government of the Republic of Turkey" signed on February 25, 2020 in Baku was approved by the President of the Republic of Azerbaijan on May 31, 2020 by Law No. 115-VIQ. Pursuant to the Article 24 of this Law, the Agreement shall enter into force on the first day of the second month following the receipt of the last diplomatic notification by each Contracting Party confirming the completion of all procedures required by national law for the entry into force of this Agreement.
Following the completion of the relevant procedures, the Agreement entered into force on 01.03.2021. The agreement mainly covers the mutual reduction of customs duties on imports of a number of agricultural and food products. Annex 1 to the agreement provides an accurate list of these products. The full text of the agreement is available at the link below.