NEWS

DCFTA benefits: Georgia-EU trade turnover up 17.7% in 2018

Exports grew by 11.5% and reached $730.3 million while imports grew by 19.5% and reached $2.62 billion. Photo: Nino Alavidze/Agenda.ge.

Agenda.ge, 11 Apr 2019 - 12:15, Tbilisi,Georgia

Trade turnover between Georgia and EU increased by 17.7% in comparison to 2017 and reached $3.35 billion in 2018, much in part thanks to the Deep and Comprehensive Free Trade Area (DCFTA) agreement with the EU.

Exports grew by 11.5% and reached $730.3 million while imports grew by 19.5% and reached $2.62 billion, said Deputy Economy Minister Genadi Arveladze.

Arveladze also said that last year Georgia diversified export products to the EU while the number of companies that export from Georgia to the EU increased by 37% compared to 2014 and reached 789 companies.

Arveladze said that between 2014-2018 Georgian products such as kiwis, blackcurrants, apples, quinces and other products entered the EU market.

Arveladze also said that with the support of the German development agency GIZ an export strategy will be created to find an export potential of furniture and communication technologies to the EU.

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