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The Free Trade Agreement (FTA) between the Republic of Turkey and the Arab Republic of Egypt was signed on 27 December 2005 in Cairo and entered into force on 1 March 2007.
With Turkey-Egypt FTA, tariffs and non-tariff barriers were eliminated in trade between the Parties. The Agreement also covers numerous trade related areas such as the sanitary and phytosanitary measures, trade in services, foreign direct investments, internal taxation, balance of payments, public procurement, state aids, intellectual property rights, anti-dumping and safeguard measures and rules of origin.
Customs duties applied by Turkey on industrial goods originating in Egypt have been abolished by the entry into force of the Agreement. On the other hand, customs duties applied by Egypt on the industrial goods originating in Turkey will be abolished gradually until 1 January 2020 according to the lists provided in Protocol I of the Agreement.
Regarding the agricultural products, Turkey and Egypt granted each other unlimited tariff elimination or reduction and/or tariff reduction or elimination in the form of tariff quotas for some agricultural products originating in the other Party. The agricultural products which are subject to tariff reduction or elimination are listed in Protocol II of the Agreement.
The products which will benefit from the preferential tariffs should fulfill the rules of origin set out in Protocol III of the Agreement.
When the bilateral trade statistics were examined, it can be seen that the trade volume between Turkey and Egypt was realized as 5.16 billion US $ in 2012 with an increase of 26% compared to 2011. In 2012, imports from Egypt were 1.48 billion US $, whereas exports to Egypt were 3.68 billion US $.