|EFTA And Turkey Progress FTA Update Talks
by Ulrika Lomas, Tax-News.com, Brussels
Friday, April 14, 2017
Delegations from the European Free Trade Association member states (Iceland,
Liechtenstein, Norway, and Switzerland) met with counterparts from Turkey earlier
this month to discuss updating the existing EFTA-Turkey free trade agreement
According to EFTA, negotiators made "significant progress" in their
fourth round of talks, with discussions held in several areas, most notably trade
in goods, technical barriers to trade, rules of origin, and trade facilitation.
The talks also covered trade in services, intellectual property rights, and
Both sides agreed to continue the negotiations with the aim of concluding the
update before the end of 2017.
A fifth round is due to be held in the autumn, although intersessional discussions
will be held on various matters in the meantime.
Bilateral EFTA-Turkey merchandise trade has increased steadily since 2001 and
reached EUR6bn (USD6.4bn) in 2016. EFTA's main exports to Turkey are precious
metals, pharmaceutical products, machinery, and mineral fuel. Merchandise imports
from Turkey consist mainly of precious metals, apparel articles and accessories,