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Turkey to start realizing preferential trade deals with Azerbaijan, Kazakhstan

Turkey to start realizing preferential trade deals with Azerbaijan, Kazakhstan

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Date: 8 January 2016 18:47

Baku, Azerbaijan, Jan. 8

By Azad Hasanli – Trend:

Turkey will start realization of preferential trade agreements with Azerbaijan and Kazakhstan on Jan. 1, 2017, the Turkish newspaper Haber 7 reported Jan. 8.

This is envisaged by a ‘roadmap’ drawn up by Turkey’s Ministry of Economy.

After Moscow introduced economic sanctions on Turkey, Ankara began searching alternative markets more intensively to compensate for losses inflicted by the Russian sanctions.

Turkey has initiated the signing of a free trade agreement with Pakistan. Similar agreements are also planned to be signed with Japan, Mexico, Peru and Ukraine, reported Haber 7.

Russia’s economic sanctions against Turkey came into force Jan. 1, 2016. In particular, Turkish vegetables, fruits, and poultry are banned in Russia. Moreover, the sanctions include a ban on making charter flights and selling tours to Turkey, as well as the introduction of a visa regime from 2016.

Relations between Moscow and Ankara deteriorated greatly after the Turkish Air Force shot down a Russian Su-24 bomber in Turkey’s airspace Nov. 24.

Ankara has said the Su-24 violated the Turkish airspace, but the Russian General Staff says the plane didn’t violate Turkey’s airspace.

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