World Trade Organisation praises Georgia’s trade reforms

World Trade Organisation (WTO) members are praising Georgia’s trade policy and the reforms implemented to liberalise international trade.

In Geneva today a Georgian delegation presented a report on the Trade Policy Review of Georgia to WTO experts.

Trade Policy Reviews are an exercise mandated in WTO agreements, in which member countries' trade and related policies are examined and evaluated at regular intervals.

Georgia’s Trade Policy Review, created by the Georgian Government, said Georgia continued the trend of trade liberalisation activities during the reporting period [2009-2014 years].

WTO member countries welcomed Georgia’s commitment to the Trade Facilitation Agreement (TFA) and its intentions to join the Information Technology Agreement (ITA).

At the meeting the European Union (EU) representative highlighted Georgia’s progress in implementing reforms within the Deep and Comprehensive Free Trade Area (DCFTA) deal.

Furthermore, a United States (US) official said America supported Georgia’s Euro-integration.

The WTO members praised Georgia’s success in establishing open, transparent and predictable trade and investment regimes. They said Georgia’s tariff and non-tariff barriers to trade were largely eliminated, and export and import procedures were simplified as a result of reforms.

Meanwhile, Georgia’s Trade Policy Review stated the country enjoyed liberal trade policies, preferential trade regimes and access to EU markets.

As a result [these things] will create a solid foundation for strengthening and developing local industry, facilitate exports and foreign direct investment,” said the review.

In Geneva WTO members said Georgia’s liberal economic reforms and improved business environment had been well reflected in various international ratings.

Since the last Trade Policy Review of 2009, Georgia signed a Deep and Comprehensive Free Trade Area (DCFTA) with the EU. Currently Georgia enjoys free trade with markets of more than 800 million people, including the EU, CIS and Turkey.

Recently the Georgian Government started free trade talks with China.

Georgia has been a member of WTO since June 14, 2000.