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Effective date of FTA between Turkey, Malaysia becomes clear

by ChemOrbis Editorial Team -
  • 03/06/2015 (16:31)
According to a statement published in Turkey’s Official Gazette dated June 1, 2015, the Turkish Cabinet has approved the free trade agreement (FTA) which was signed between Turkey and Malaysia on April 17, 2014 in order to increase mutual trade and the internal approval process has been completed, a source from Boykan Customs Consultancy informed. Malaysia had already completed the internal approval process.

Following the completion of the internal approval process and the publication of the decision in the official gazette, the parties’ Ministries of Foreign Affairs will notify each other mutually. In case that the notifications are completed within this month, the agreement will be effective as of the first day of the second month from the date of confirmation, namely August 1, 2015.

In line with the approved agreement, HDPE, PP copolymer, PS, EPS, ABS, PVC and PET products will be subject to zero tariffs with immediate effect while custom duties on homo-PP, LLDPE and LDPE products will be reduced gradually in the following four years as of the effective date of the agreement.
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