EU offers Georgia €6 million to implement DCFTA
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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.
One year on from Georgia’s EU integration the country is already showing immense progress, particularly in the agriculture sector where growth is evident in a range of directions.
Georgia’s implementation of the Association Agreement (AA) and the Deep and Comprehensive Free Trade Area (DCFTA) was the main topic discussed at today’s meeting between the country’s President Giorgi Margvelashvili and European Union (EU) Commissioner for Neighborhood Policy and Enlargement Negotiations Johannes Hahn.
Georgia's Prime Minister Irakli Garibashvili spoke positively of Georgia's progress, growing economy and opportunities for foreign investors at the Georgia-Estonian Business Forum today.
The European Union (EU) is supporting Georgia’s small businesses to ensure they enjoy benefits from the Deep and Comprehensive Free Trade Area (DCFTA) agreement.
Only half of small and medium-sized enterprises (SMEs) that operate in Georgia want to sell their produce to the European Union (EU), and of the ones that do, only eight percent say they understand the opportunities the trade deal offer.
The European Commission is supporting reform implementation and economic development in Georgia through a new assistance package totalling €100 million.
The European Union (EU) is offering €14 million to Georgia to support the country as it moves towards EU integration.
Since 1992, Elselema has been producing all types of clothing, with a particular focus on uniforms, outdoor wear, as well as casuals and knitted products for men, women and children. It’s a family business which has grown to operate two factories – both employing up to 200 workers – one in Tbilisi, and one in Lanchkhuti to the West of the Georgian capital.
Georgia has quite a long list of reforms that need to be implemented in the country and the EU will deploy the necessary help and funds to continue to work in this direction, EU Commissioner for Neighborhood and Enlargement, Oliver Varhelyi stated at a news conference after an Eastern Partnership Foreign Affairs Ministers’ meeting today.