Venezuela - Turkiye Economic Agreement

Country / jurisdiction: Republic of Turkiye · Year: 2020 · Status: In force · Level: National · Type: Voluntary

The Partial Economic Agreement between Venezuela and Turkey entered into force in August 2020, reducing or eliminating import tariffs between the countries, including for:

Aluminium ores and concentrates

Cobalt ores and concentrates

Copper ores and concentrates

Carbonates; lithium carbonate

Nickel oxides and hydroxides

Lithium oxide and hydroxide

Heat pumps

Electric accumulators; lithium-ion, including separators, whether or not rectangular (including square)

Fertilizers

Rules of origin delineated in the Agreement state that goods may benefit from preferential tariff treatment of wholly produced in the parties territories or having undergone sufficient production processes there (eg. entailing changes in terms of tariff classification) or incorporating non-originating materials which value is below 25% - 50% of the ex-works price of the final product.

Official source: https://www.trade.gov.tr/free-trade-agreements/venezuela