From February 25 to 27, 2015, delegates from the European Free Trade Association (EFTA) states and Turkey met in Geneva for a second round of negotiations on the modernization and expansion of their existing free trade agreement (FTA).
According to a statement from EFTA – comprising Switzerland, Iceland, Liechtenstein, and Norway – the two sides had constructive discussions and were able to achieve further progress on an update and expansion of their FTA in several areas, including notably on trade in goods, trade in services, intellectual property rights, and sustainable development. The delegations scheduled a further round of negotiations for early summer.
Bilateral EFTA-Turkey merchandise trade has increased steadily since 2001 and reached USD5.4bn in 2014. EFTA’s main exports to Turkey include machinery, pharmaceutical products, and mineral fuels/oil. Merchandise imports from Turkey consist mainly of apparel articles and accessories and vehicles.
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