Free Trade Agreement (FTA) between the Republic of Turkey and Montenegro was signed on 26 November 2008 in Istanbul and entered into force on 1 March 2010.
Turkey-Montenegro FTA covers rules concerning the elimination of tariff and non-tariff barriers for trade between the Parties, and also regulates numerous subjects including sanitary and phytosanitary measures, technical barriers to trade, intellectual property, rules of origin, internal taxation, anti-dumping and countervailing measures, safeguards, and balance of payments measures.
In industrial products, Turkey has eliminated all customs duties for Montenegro originating products upon the entry into force of the FTA, while Montenegro has progressively eliminated its customs duties until 1 January 2015.
Concerning agricultural products, Turkey and Montenegro exchanged concessions for certain products in the form of tariff quotas subject to MFN duty reduction or exemption. The concession lists of agricultural products are laid down in Protocol I of the Agreement.
The products, which will benefit from the preferential tariffs, should fulfil the rules of origin set out in Protocol II of the Agreement.
The trade volume between Turkey and Montenegro was realized as 84 million US$ in 2017 with an increase of 6,7% compared to 2016. In 2017, Turkey’s export to Montenegro was 60 million US$, whereas Turkey’s import from Montenegro was 24 million US$.