Georgia, India inch closer to free trade agreement

Georgia and India are one step closer to launching free trade talks: a joint feasibility study on a free trade agreement has been completed, and confirms that such a deal would have a positive impact on the economic welfare of both countries. 

The study recommends Georgia and India to start negotiations on a free trade agreement and establish a special committee for this purpose. 

What are Georgia’s promising export products to India?

Ores, metallurgical products, medical products, wine and other alcoholic and non-alcoholic beverages and processed agricultural products  are some of the goods that may have potential on the Indian market, the study reveals. 

What will India export to Georgia? 

Exports to Georgia from India in cement, ores, mineral fuels, plastic products and electrical equipment may increase. 

Beneficial trade relations should be pursued in telecommunication, tourism, audio-visual and the service sector, says the study.

Attractive fields for investments

India might invest in pharmaceutical, metallurgical, information technologies, tourism, education, health, energy and the environmental sectors. 

On the other hand, Georgian investors might be interested in investing in India’s tourism, education and wine sectors.  

The joint feasibility study group was established in 2017 and the purpose was to provide an opportunity for more in-depth and systematic examination of potential free trade agreement.

So far Georgia has free trade deals with Turkey, the European Union (EU), the European Free Trade Association (EFTA) countries - Switzerland, Norway, Iceland and Liechtenstein; with China and the Commonwealth of Independent States (CIS) countries - Armenia, Azerbaijan, Kazakhstan, Kyrgyzstan, Moldova, Turkmenistan, Tajikistan and Uzbekistan.

Georgia also signed a free trade deal with Hong Kong in 2018 and launched talks with the United States.