Turkey signs trade agreement on agriculture with Serbia, News
Turkey and Serbia signed a trade agreement on agriculture on Aug. 22, the first since 2011.
Ahmet Eşref Fakıbaba, the Turkish minister of food, agriculture, and livestock, and Branislav Nedimovic, the Serbian minister of agriculture, met in Serbia’s capital Belgrade to discuss ways to improve import and export between the two countries.
The agreement aims to boost the export of sunflower oil, fruits, and vegetables between the two countries, and increase bilateral trade to $1 billion.
Fakıbaba, in a joint press conference after the signing ceremony, said Serbia had a decisive role to play for peace and stability in the Balkan region.
“We give great importance to improving our relations in every area, especially in the economy,” he said.
He asked Turkish businessmen to increase investment in Serbia, adding that Serbia should provide them incentives.
“Serbia is very important for us, Serbia is our great friend. We need to put a little more effort to reach $1 billion in trade volume—our common goal,” he said.
Fakıbaba said if Belgrade allows a free trade zone to Ankara, it could enter markets in Russia and the European Union, with which it has free trade agreements.
In return, he added, Turkey could open its market to Serbia.
Nedimovic said they had focused on three main issues—updating the Free Trade Agreement, creating new quotas for various agricultural products, and investment in the livestock and fruit sector—during their talks.
“Of course, this must satisfy the two sides. Our offer was beef and sunflower oil exports. This way we aim to increase production,” said Nedimovic.
He said they were open to Turkish investors, and that Turkey could be a milestone for them in the Middle East and Asian markets.
Nedimovic estimated that the free trade agreement signed eight years ago between the two countries had made a fivefold increase in trade in the agriculture sector.
There are 75 Turkish private investments in Serbia’s textiles, food, and construction sectors, totaling around $110 million.
- May 11, 2023 Mining Industry, Science and Communications, bridging the gaps
- May 11, 2023 Communicating Energy, new tech industries communications
- May 9, 2023 Serbia economy briefing: Transformation of “Elektroprivreda Srbija”
- April 24, 2023 Without sustainable mining, there is no renewable future
- March 25, 2023 Europe revives mining to reduce dependence on the import of key raw materials, the advantages of Serbia as materials supplier
- March 8, 2023 Calcium Carbonate Industry, Reshaping the Market Growth, Serbian supplier to match European industrial demand
- February 28, 2023 Serbian exploitation miner Belkalhan could become EU primary supplier of Graphite critical raw material
- February 28, 2023 Calcite/calcium carbonate premium quality supplier from Serbia opening supply contracts for 24,25, pharmaceutical/chemical/food processing industry opportunity for JV
- February 16, 2023 Serbian Belkalhan calcite & graphite mining developer invites JV partners for joint critical raw materials exploitation
- February 15, 2023 Petroprocess to modernize EPS power plant CEMS system with state of the art equipment
- May 29, 2023 What is the amendment of the regulation on subsidy for investors bringing to Serbia
- May 29, 2023 Hungarian aspiration towards Serbian hydropower plants: what happened after EPS became a joint-stock company?
- May 27, 2023 Serbia, Demand for loans was reduced in the first quarter of this year