Free Trade between Serbia and Turkey in Force

The free trade agreement between Serbia and Turkey came into effect on 1st of September, 2010. The agreement will enable joint production and diagonal accumulation of origin of goods. The greatest prospects for further improvement of business cooperation between Serbia and Turkey exist in the textile industry, the energy sector, the automotive industry, food production and packing, information technology, as well as production of glass and glass products. The value of trade between Serbia and Turkey during the first seven months in 2010 was $219.2 million. The greatest potential of this agreement is the size of the new market now open to Serbia, as Turkey has 72.5 million citizen.