Turkey deprives Syria of all trade benefits

Business Materials 14 December 2011 17:34 (UTC +04:00)

Azerbaijan, Baku, Dec. 14 /Trend A.Badalova/

The Turkish Council of Ministers made a decision to exclude Syria from the list of the countries with the Generalized System of Preferences, Turkish daily Official Gazette reported on Wednesday.

Thus, Syria loses all additional trade and customs benefits that the country used in trade with Turkey.

Generalized System of Preferences is a system of preferential tariffs on goods exported by developing countries.

In late November, Turkey announced about imposing a number of sanctions against Syria, including freezing of strategic cooperation, the termination of cooperation with the Central Bank of Syria, freezing of Bashar Assad's and government' financial assets.

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