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FTA between Turkey and Malaysia to take effect on August 1

by ChemOrbis Editorial Team -
  • 31/07/2015 (13:42)
The free trade agreement (FTA) which was signed between Turkey and Malaysia on April 17, 2014 in order to increase mutual trade will go into effect as of August 1, 2015. According to a statement made by the Turkish Plastics Industry Foundation (PAGEV), the parties had completed the internal approval processes regarding the agreement and the decision was published in the official gazette.

Under the aforementioned 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. Moreover, the custom duties for all industrial products will mutually be set to zero at the end of 8 years as of the effective date of the agreement.
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