Deputy Economy Minister reveals deal with Turkey to add services to free trade agreement
Turkey ranking first among Georgia's largest trading partners - with a 15 percent share - was also noted during the meeting. Photo: Nino Alavidze/Agenda.ge
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Georgia and Turkey will amend the free trade agreement between the two states to make it easier for businesses to sell their services to the two markets, Genadi Arveladze, the Deputy Economy Minister of Georgia, said following his meeting with Mustafa Tuzcu, the Deputy Minister of Trade of Turkey.
Two officials met on the sidelines of the World Trade Organisation's 12th Ministerial Conference, and agreed on talks to add trade in services to the deal “in the near future”, Georgia’s Economy Ministry announced on Tuesday.
Arveladze called Turkey Georgia's “largest trading partner” and noted the amendment to the agreement would increase bilateral trade turnover and would be “equally beneficial” for both countries.
Georgian and Turkish officials also discussed the “difficult geopolitical situation” in the Black Sea region on the backdrop of the conflict in Ukraine, and opportunities for further intensification of bilateral trade and economic relations.
Turkey ranking first among Georgia's largest trading partners - with a 15 percent share - was also noted during the meeting, along with a 28 percent increase in bilateral trade turnover and a 23 percent growth of Georgia’s exports in the first quarter of 2022.
Georgia officially joined the initiative to regulate trade in services by countries with advanced economies in the framework of the Ministerial, the ministry said, adding Arveladze was set to hold bilateral meetings with the heads of trade delegations of various countries. Photo: Georgian Economy Ministry
Running between June 12-15, the Conference takes place in Geneva, Switzerland and gathers ministers from across the world to review the functioning of the multilateral trading system.
The Georgian capital city of Tbilisi has hosted more than 100 Turkish entrepreneurs, potential investors and representatives of the country’s business community as part of the Turkey-Georgia Business Forum, held earlier today.
Turkey ($766.3 million), China ($614.7 million) and Russia ($559.7 million) are the top trading partners of Georgia in total external trade turnover in January-April 2022, preliminary data from the National Statistics Office of Georgia show.
A delegation from Georgian Railway joined counterparts from Turkey, Azerbaijan and Kazakhstan on Wednesday in Ankara to discuss the project of the Middle Corridor of the Trans-Caspian International Transport Route, aimed to connect supply chains and logistics between China and Europe.
Georgia and Turkey on Wednesday signed an agreement on road transport traffic that defines all current issues in the field, the Georgian Economy Ministry announced.
Tourism authorities of Georgia and Türkiye have held their first working meeting in Istanbul to deepen cooperation in the field of tourism, the ministry of economy of Georgia announced on Tuesday.
Pegasus Airlines, a Türkiye-based budget airline, is set to launch flights between the Turkish capital of Ankara to the Georgian capital of Tbilisi starting November 2, the Georgian economy minister announced on Wednesday.
Turkish-based Pegasus Airlines has launched flights connecting the capitals of Türkiye and Georgia, with first passengers arriving on Wednesday, TAV Georgia, the company operating Tbilisi and Batumi airports, has announced.
Top Georgian officials on Sunday sent their condolences over the deadly explosion in Istanbul that killed six and left 81 injured on a shopping street in the capital’s Taksim Square area.