Tunisia Preferential Trade Agreement

  • Autor de la entrada:
  • Categoría de la entrada:Sin categoría

Tunisia Preferential Trade Agreement: What You Need to Know

Tunisia has been seeking to increase its trade relations with other countries in recent years, and one of the ways it has done so is through preferential trade agreements. These agreements help to reduce or eliminate tariffs on certain goods and services, making it easier for Tunisian businesses to trade with other countries.

In particular, Tunisia has signed a number of preferential trade agreements with its neighbors in the Mediterranean region, as well as with countries in Africa and Asia. These agreements cover a variety of goods and services, including agricultural products, textiles, automotive parts, and more.

One of the most significant of these agreements is the Tunisia-EU Preferential Trade Agreement, which was signed in 1998 and came into force in 2008. Under this agreement, Tunisian exports to the European Union (EU) can enter duty-free, while the EU provides preferential access to its own markets for Tunisian products.

This agreement has been an important driver of Tunisia`s economic growth, as the country has been able to increase its exports to the EU significantly. In fact, the EU is currently Tunisia`s largest trading partner, accounting for over 70% of its exports and 50% of its imports.

In addition to the EU agreement, Tunisia has also signed preferential trade agreements with a number of other countries and regions. These include:

– The Arab Maghreb Union (AMU), which includes Tunisia, Algeria, Libya, Mauritania, and Morocco. This agreement allows for duty-free trade among these countries and aims to promote economic integration in the region.

– The Pan-Arab Free Trade Area (PAFTA), which includes Tunisia and 17 other Arab countries. This agreement aims to create a free trade area among its members by reducing tariffs and other barriers to trade.

– The Common Market for Eastern and Southern Africa (COMESA), which includes Tunisia and 20 other African countries. This agreement aims to promote economic development and regional integration by creating a free trade area and reducing trade barriers.

Overall, these preferential trade agreements have been an important driver of Tunisia`s economic growth and integration into the global economy. By eliminating or reducing tariffs on certain goods and services, they have made it easier for Tunisian businesses to trade with other countries, increasing their competitiveness and creating new opportunities for growth. For this reason, Tunisia is likely to continue seeking out new preferential trade agreements in the future, as it looks to expand its exports and strengthen its economy.