Update on Turkey’s custom duties for 2016

In Turkey, in accordance with the Cabinet decision regarding the import regime published on the Official Gazette dated December 31, 2015, several updates have been made on customs duties as expected. According to the aforementioned decision, which is effective as of January 1, 2016, within the scope of the free trade agreement signed with South Korea, customs duties for homo-PP, PVC and LDPE imports from this country have been reduced to 2.1% from 3.2%.

Meanwhile, customs duties for homo-PP, LLDPE and LDPE imports from Malaysia have been reduced to 3.3% as of the beginning of this year under the free trade agreement (FTA) signed between Turkey and Malaysia, which took effect as of August 1, 2015.

In addition, in line with a regulation published in the Official Journal of the European Union dated 27.09.2014 numbered 1015/2014, the World Bank had categorized Turkmenistan among high and middle income countries depending on the country’s economic data in 2012, 2013 and 2014. Because of the fact that Turkmenistan has been removed from the Generalized Scheme of Preferences (GSP) list, Turkey increased the customs duties on Turkmen origins to 6.5% from 3% as of January 1, 2016.