What countries does Georgia have a free trade agreement with?
The feasibility study of free trade with India has been completed and the first round of negotiations will be held very soon. Also, the feasibility study of free trade with Israel is in its final stages. Photo: Nino Alavidze/Agenda.ge.
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Deputy Minister of Economy Genadi Arveladze has met with media representatives on DCFTA matters on February 8-9 where one of the main issues he discussed was Georgian free trade agreements.
Georgia has a free trade regime with the European Union (EU), the European Free Trade Association (EFTA), Commonwealth of Independent States (CIS) countries, Turkey, China and Hong Kong.
Currently, products made in Georgia have access to one-third of the world consumer market through free trade regimes which reach more than 2.3 billion consumers in total.
Free trade with two members of EFTA including Norway and Iceland came into force in September 2017, while free trade agreements with Switzerland and Liechtenstein came into force in May 2018.
The free trade agreement with Turkey came into force in November 2008, while with China it came into force in January 2018.
Georgia also has bilateral free trade agreements with Russia, Uzbekistan, Moldova, Kazakhstan, Ukraine, Turkmenistan, Azerbaijan, and Armenia, said Deputy Minister of Economy Genadi Arveladze at the meeting with the media representatives on DCFTA matters.
Georgia signed the Association Agreement with EU in 2014 which includes the Deep and Comprehensive Free Trade Area (DCFTA) with the European Union (EU).
Before Brexit came into force, we negotiated with the government of the UK, signed the [free trade] agreement and ratified it. Now we expect the same from Britain. We think it will ratify the agreement approximately in a month. It is important for us to finish this process on time,” said Arveladze.
Arveladze said that the feasibility study of free trade with India has been completed and the first round of negotiations will be held very soon. He also spoke about the possible free trade between Georgia and Israel and said that the feasibility study of free trade with Israel is in its final stages.
A meeting with media representatives was held on February 8-9 and was organised by the Ministry Economy and the European Union within the framework of the project ‘Facility for the Implementation of the EU-Georgia Association Agreement-II’.
Export from Georgia reached a historic high in 2019, announced the Georgian government earlier today, stating that exports to the EU also reached a record high, with the value of exports increased 12.4 per cent and reaching $3.77 billion, while imports decreased 0.8 per cent, amounting to $9.06 billion.
Exports from Georgia to the EU increased by 13 per cent in 2019 compared to last year and reached $825.7 million, while imports decreased 7.4 per cent and amounted to $2.32 billion, show preliminary data from the National Statistics Office of Georgia. The share of exports to EU countries made for 21.9 per cent of total exports, while the share of imports constituted 25.6 per cent of total imports.
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.
Small and medium-sized businesses in Georgia are now able to receive all information about the possibilities and benefits of free trade with the European Union (EU) through a recently launched online platform.
The European Union has allowed the importation of pet food from Georgia to the EU.
Georgian Prime Minister Giorgi Gakharia and Ambassador of India Kishan Dan Dewal have discussed the establishment of an Indian Embassy in Georgia and the opportunities of concluding a free trade agreement between the two countries at the meeting held this morning, announces the government of Georgia.
Georgia will be one of the first countries in the region to start negotiations on a free trade agreement with the United Arab Emirates (UAE), Georgian Economy Minister Natia Turnava announced after the meeting in the Ministry of Economy of the UAE.
A US-Georgia free trade agreement (FTA) would have a net positive effect for both countries, Georgian Foreign Minister David Zalkaliani told Brock Bierman, an opinion contributor for the American newspaper The Hill.
Georgian officials and the European Free Trade Association held the first meeting of their Joint Committee in Geneva on Saturday to discuss the Free Trade Agreement between the two sides.
Genadi Arveladze, the Deputy Economy Minister of Georgia, on Wednesday told the Parliament's European Integration Committee that 60 percent of the country’s commitments made under the 2014 Deep and Comprehensive Free Trade Area deal with the European Union in terms of alignment of the domestic legislation with the bloc’s framework had been fulfilled.