Georgia’s Ministry of Economy begins negotiations with EFTA
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Georgia’s Ministry of Economy is launching negotiations to sign a free trade agreement with the European Free Trade Association (EFTA), which unites Switzerland, Norway, Iceland and Liechtenstein.
Once Georgia signs the free trade agreement with the EFTA, a market with high solvency will open and unite four countries and more than 13 million consumers.
This will be the first international agreement Georgia will sign with Iceland and Liechtenstein.
Georgia’s Ministry of Economy said this was another important step after enacting the Deep and Comprehensive Free Trade Agreement (DCFTA) with the European Union (EU).
A second session of the joint committee of cooperation between Georgia and the EFTA will be held in Tbilisi today where terms of the EFTA-Georgia free trade negotiations will be discussed at the meeting.
A positive decision was adopted about launching talks with Georgia at the EFTA Ministerial in Geneva on November 17, 2014 following a request from the Georgian side, stated the Ministry.
One of the main priorities of Georgian Government was to support local exports through diversification of the export markets.
"We have discussed the terms of the free trade agreement. The negotiations will start from September 1, 2015,” said said Deputy Economy Minister Mikheil Janelidze.
"We have also agreed that Georgia will get the first offer regarding free trade from EFTA from June 1, 2015. Then we will start to study the offered proposal. We think the negotiations may finally end during the year. Four rounds of the negotiations will be held,” he said.
The first round of negotiations will be held in Tbilisi. The free trade agreement with EFTA will be comprehensive agreement, which will include tariff libelarisation issues as well as to overcome non-tariff barriers.
The EFTA is an intergovernmental organisation set up for the promotion of free trade and economic integration to the benefit of its four Member States: Iceland, Liechtenstein, Norway, Switzerland.
Georgia is taking another step forward cementing its relationship with the EU and fulfilling its obligations regarding the DCFTA to establish a free trade area with European Free Trade Association (EFTA) countries.
Georgia is taking another step forward in creating the proper foundations to sign a Free Trade Area Agreement with four countries under the European Free Trade Association (EFTA).
Switzerland, Norway, Iceland and Liechtenstein
Switzerland, Norway, Iceland and Liechtenstein – combining 14 million consumers – are opening their markets to Georgia from the beginning of 2017 when a new free trade deal comes into play.
Switzerland, Norway, Iceland and Liechtenstein – combining 14 million consumers – are opening their markets to Georgia later this month when a new free trade deal comes into play.
Two years after signing an Association Agreement, which includes a Deep and Comprehensive Free Trade Area deal with the EU, Georgia is now benefiting the free trade agreement with European Free Trade Association.