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Trade Agreement Between Turkey And Eu

Trade Agreement Between Turkey And Eu

Appendix II of the “list rules” is limited to agricultural products. It only allows bilateral accumulation between the EC and Turkey. The list of “minimum” operations has not yet been aligned with the list of the pan-European accumulation system. There is no exception to the principle of territoriality or accounting separation. Turkey, a party to the 1947 General Agreement on Tariffs and Trade (GATT) and a member of the World Trade Organization (WTO) since 1995, implements free trade agreements in accordance with Article XXIV of the 1947 GATT. Under this article, Turkey could give its trading partners more favourable treatment within the framework of a customs union or free trade area, without extending this treatment to all WTO members, subject to certain conditions. The parties recognize that economic development, social development and environmental protection are interdependent. In Chapter 7, they reaffirm their commitment to multilateral contracts and principles in the environment and work and commit to a level of protection by recognizing the right of each party to set its own level of environmental and labour protection. Arbitration procedures do not apply to this chapter.

Article 16 of The Turkey-EC Association Council`s Decision 1/95 on the implementation of the final phase of the customs union provides, among other things, that Turkey will take the necessary measures and negotiate mutually beneficial agreements with the countries concerned. In 1996, a free trade area was established between Turkey and the European Union for the products of the European Coal and Steel Community. The 1/98 decision of the Association Council concerns the exchange of agricultural products. In today`s world, countries tend to enter into bilateral and regional free trade agreements, as the World Trade Organization (WTO) has achieved a high level of liberalization, with insufficient WTO rules under current conditions and an inefficient multilateral trading system to allow better market access. As a result of this trend, some 400 free trade agreements are being notified to the WTO. The agreement covers trade in industrial products, fish and seafood products and processed agricultural products. The transition period ended on January 1, 1999.


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