Free trade deal between Georgia and 4 European countries comes into play today
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From today the free trade agreement between the European Free Trade Association (EFTA) and Georgia is coming into play for Switzerland and Liechtenstein.
Georgia and the EFTA states - Iceland, Liechtenstein, Norway and Switzerland – signed the free trade agreement in June 2016, while it entered into force on September 1, 2017. At that stage the agreement entered into force only among Georgia, Norway and Iceland. Today it comes into force for Switzerland and Liechtenstein as well.
The agreement will help boost trade relations between the contracting parties.
More specifically, it means Georgian goods will now be exported without tariff and non-tariff barriers to EFTA member nations.
The decision to establish a free trade deal with Georgia was made by the EFTA Council of Foreign Ministers on November 17, 2014.
The first round of negotiations took place in Georgia in September 2015, while the second round was held in December 2015.
Georgia successfully completed its third and final round of negotiations with the EFTA in February 2016.
So far Georgia has free trade deals with Turkey, the European Union (EU), the European Free Trade Association (EFTA) countries and with the Commonwealth of Independent States (CIS) countries - Armenia, Azerbaijan, Kazakhstan, Kyrgyzstan, Moldova, Turkmenistan, Tajikistan and Uzbekistan.
Recently, Georgia signed a free trade agreement with China.
The Georgian Government has also started free trade talks with India.
The free trade agreement between the European Free Trade Association (EFTA) and Georgia will enter into force for Switzerland on 1 May, announces the Federal Council of Switzerland, which constitutes the federal government of the Swiss Confederation.
Switzerland, Norway, Iceland and Liechtenstein – combining 14 million consumers – are opening their markets to Georgia today as 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.
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.
Georgia and Hong Kong are signing a free trade agreement by the end of this month, Georgian Prime Minister Giorgi Kvirikashvili has announced.
Hong Kong and Georgia have signed a free trade agreement (FTA) today which will provide legal certainty and boost market access and investment flow between the two countries. Georgian Deputy Economic Minister Genadi Arveladze and the Secretary for Commerce and Economic Development of Hong Kong, Edward Yau signed the free trade agreement in Hong Kong today.
Georgia’s external trade grew by 22.6 per cent in January-August 2018 and reached $8.1 billion, says the National Statistics Office of Georgia (Geostat).
A free trade deal signed between Georgia and Hong-Kong this June will be sent to the Parliament of Georgia for ratification, the Prime Minister of Georgia Mamuka Bakhtadze announced at today’s government meeting.