New online platform launched to support trade, investment between EU, EaP countries
The EaP Trade Helpdesk reports that in the region, there is 61.1% unrealised economic potential in the creation of jobs and economic growth, while for Georgia, unrealised potential equals 62%. Photo: Nino Alavidze/Agenda.ge.
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The new EU-funded online platform Eastern Partnership (EaP) Trade Helpdesk was launched on December 15, which aims to support trade and investment between the EU and Eastern Partnership countries.
The platform will facilitate ‘opening new market opportunities’ both for importers and exporters in the EU and the EaP countries.
This platform will assist companies in identifying new opportunities, potential partners and check necessary requirements and procedures,” the EU Commission reports.
Executive Vice-President and Commissioner for Trade Valdis Dombrovskis says the project will assist strengthening trade ties with the region, noting that ‘the region as a whole is one of the EU's top 10 trading partners.’
President of the EU Commission Ursula von der Leyen has tweeted:
We are deepening our cooperation with significant investments.
— Ursula von der Leyen (@vonderleyen) December 15, 2021
#GlobalGateway is already at work in #EaP countries.
From making buildings in Moldova more energy efficient to rolling out fiber optic cable under the Black Sea.
So I invited our Eastern partners to get on board pic.twitter.com/ZMSzol3slM
- EaP summit declaration: EU acknowledges initiative of associated trio to enhance cooperation with EU
EaP Trade Helpdesk complements the Access to Markets database, which allows EU companies ‘to benefit from trade agreements to the fullest by breaking down complex trade rules into practical, tailored information.’
European Commissioner for Neighbourhood and Enlargement Oliver Varhelyi states that ‘this platform is a practical way to provide help and support Recovery, Resilience and Reform, our priorities for the EaP region.’
The platform was developed in collaboration with the EU4Business Eastern Partnership Trade Helpdesk project and the International Trade Centre (ITC) as executing partner.
Following the EaP summit held in Brussels on December 15, a declaration was adopted which stressed the importance of ‘strengthening the business environment and facilitating trade and investment, embracing the opportunities of the green and digital transformations’ with partner countries.
The EaP was launched on April 7, 2009 and united six Eastern European countries – Georgia, Armenia, Azerbaijan, Belarus, Moldova and Ukraine. However, Belarus suspended its participation in the EaP following economic sanctions imposed by the EU against the country earlier this year.
The EaP Trade Helpdesk reports that in the region, there is 61.1% unrealised economic potential in the creation of jobs and economic growth, while for Georgia, unrealised potential equals 62%.
The European Investment Bank (EIB) will invest €34 million to provide internet connections for approximately 500,000 people living in Georgia's rural areas.
The inflation rate in Georgia will return to 3% by the end of 2022, Economy Minister Natia Turnava stated earlier today, noting that high inflation is ‘one of the most important issues’ the Georgian population currently faces.
Rothschild & Co, a global financial giant, will write a strategy for Georgia on how to transform itself into a regional financial hub, the government of Georgia says. An agreement between Rothschild & Co Managing Partner Arielle Malard de Rothschild and the government of Georgia was signed earlier today in Brussels.
The Eastern Partnership (EaP) summit held yesterday in Brussels has concluded with the adoption of a declaration which acknowledges the initiative of the associated trio uniting Georgia, Ukraine and Moldova ‘to enhance cooperation with the EU.'