The 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.
In addition to eliminating tariffs and non-tariff barriers, the FTA also regulates numerous subjects including sanitary and phytosanitary measures, 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.