NEWS

EU offers Georgia €6 million to implement DCFTA

Georgia’s Finance Ministry continues working on the Tax Code together with the Revenue Service. Photo by N. Alavidze/Agenda.ge

Agenda.ge, 14 Jul 2015 - 12:45, Tbilisi,Georgia

Georgia has received €6 million from the European Union (EU) that will support the country implement the Association Agreement (AA), particularly the Deep and Comprehensive Free Trade Area (DCFTA).

The money was the first tranche of the Budget Support component of a larger €45 million EU-funded program to support the EU-Georgia DCFTA and Small and Medium-sized Enterprises (SMEs).

Georgia should use the €6 million to implement trade policy reforms and adopt an SME strategy. The money should also fund the continuing implementation of macroeconomic policies, public financial management and budget transparency.

Earlier the EU concluded Georgia had met the conditions set out for the payment of this first fixed tranche and the Government of Georgia had a "firm commitment” to implement both DCFTA and SME related reforms.

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