Tuzmen: ECOTA To Take Effect In 2009

ANKARA - Turkish State Minister Kursad Tuzmen said on Sunday that ECOTA (Economic Cooperation Organization Trade Agreement) would take effect on January 1st, 2009.
Tuzmen told AA that ECOTA was the first preferential trade agreement which Turkey signed on regional base after Customs Union.
Tuzmen said that customs taxes of 80 percent of the products would be dropped to 15 percent gradually. He added that first tranche reductions would be minimum 10 percent for nearly 500 products in the beginning of 2009.
Tuzmen said that ECOTA was signed between Turkey, Afghanistan, Iran, Pakistan and Tajikistan.
Reductions will continue for eight years within the scope of the agreement.
(GC)