Türkiye increases customs duties on plastic imports from non-WTO countries Azerbaijan Gets Exemption

The Turkish government has decided to increase customs duties on imports of certain types of plastic products from countries that are not members of the World Trade Organisation (WTO).

The government made an exception only for Azerbaijan, Caliber.Az reports.

The order of President Recep Tayyip Erdogan on the change of import regime was published in the official newspaper of the Turkish government - Resmi Gazete.

The increase in customs duties is due to the desire to protect and stimulate domestic production and reduce the country's trade deficit, said the Turkish Ministry of Trade.

According to the government's decision, an additional duty of $50 to $400 will be levied on a tonne of plastic products imported from non-WTO countries (excluding Azerbaijan).

The decision will come into force 30 days after publication.

Earlier, Turkish Ambassador to Azerbaijan Cahit Bağcı announced that Türkiye intends to increase trade turnover with Azerbaijan from $8 billion to $15 billion.

According to the Azerbaijani Ministry of Economy, historical investment figures reveal the depth of the economic ties with neighbouring Türkiye. Since 1995, Azerbaijan has invested approximately $20 billion into Türkiye, while Turkish investments in Azerbaijan have amounted to $16 billion. Türkiye holds the position of the second-largest foreign investor in Azerbaijan, with about 4,200 Turkish-invested commercial enterprises currently operating in the country.

By Khagan Isayev