Deputy Economy Minister: number of companies exporting to EU up 70% since Association Agreement
The Deputy Minister also said Georgia’s turnover with the EU had grown by 19 percent last year and totalled 21 percent of the country’s total trade turnover, adding exports from Georgia to the EU market had increased by three percent, out of a total of 17 percent of Georgian exports. Photo: Georgian Economy Ministry
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The number of Georgian companies exporting to the European Union in 2021 comprised an increase of more than 70 percent compared to the figure before the 2014 signing of the Association Agreement (AA), Deputy Economy Minister Genadi Arveladze said on Tuesday.
During an address to the country legislative body, Arveladze said the increase had meant 962 companies were involved in exporting to the EU, adding the Deep and Comprehensive Free Trade Area (DCFTA) agreement - signed in 2014 as a part of the AA between Georgia and the EU - had made a “significant contribution” to the growth of foreign trade and exports in Georgia.
The Deputy Minister also said Georgia’s turnover with the EU had grown by 19 percent last year and totalled 21 percent of the country’s total trade turnover, adding exports from Georgia to the EU market had increased by three percent, out of a total of 17 percent of Georgian exports.
He further said exports of agricultural products to the EU had increased by 14 percent in 2021, including:
- Nuts and hazelnuts - 12%
- Mineral water - 20%
- Wine - 20%
- Sugar-containing carbonated waters - 97%
- Fruit juices - 6%
- Canned fruits and vegetables - 11%
Arveladze said the EU market had already been opened for Georgian fish and fish products, processed leather, wool and honey. He also highlighted the EU Commission Regulation of December 2021, based on which Georgia was added to the list of countries from which snails are allowed to be exported to the EU market.
We are actively cooperating with relevant EU structures to open up the EU market for animal products,” Arveladze said.
The official also pointed out the EU Commission had commended the progress made by Georgia in fulfilling its commitments under the DCFTA and expressed readiness to continue to assist the country in the process.
He also announced the Georgian Government was “actively working” to create a product laboratory infrastructure in the country per European or international standards, saying the majority of laboratories in Georgia were unable to conduct testing in regulated areas according to those standards.
In January-February 2022, Georgia exported locally produced goods worth $760.4 million, which was 54.5 percent higher year-on-year, while in the whole of 2021 the figure totalled $4.2 billion, an increase of 26.9 percent compared to the previous year.
Georgia’s wine export growth rate reached more than 40 percent in January-February 2022, the Georgian Agriculture Minister Otar Shamugia said on Monday, adding the figure reflected the “purposeful policy” of the Georgian Government.
Turkey ($354.4 million), Russia ($274.6 million) and Azerbaijan ($248.8 million) are the top trading partners of Georgia in total external trade turnover in January-February 2022, preliminary data from the National Statistics Office of Georgia (Geostat) show.
Georgia has exported locally produced goods worth $760.4 million in January-February 2022, which is 54.5 percent higher year-on-year, preliminary data from the National Statistics Office of Georgia (Geostat) show.
Georgia has exported locally produced goods worth 4.2 billion USD in 2021, which is 26.9% higher year-on-year, the preliminary data from the National Statistics Office of Georgia (Geostat) show. Geostat says local exports in the country account for 73.7% of total exports, amounting to 3.1 billion USD, 29.9% higher compared to 2020.
Georgia’s leading positions in simplicity of doing business, and the country’s investment opportunities were in the focus of meetings between a delegation of FTX Crypto Derivatives Exchange and Georgian officials on Thursday.
The estimated real Gross Domestic Product (GDP) of Georgia increased by 14.6 percent in February 2022 year-on-year, while the average real GDP grew by 16.3 percent in January-February, the latest data from the National Statistics Office of Georgia (Geostat) shows.
Georgia can reduce its economic dependence on Russia, use the country's transit function more efficiently, and accelerate economic integration with Western countries amid the Russian invasion of Ukraine, Georgian-based non-governmental organisations and research centres said in a statement on Tuesday.
A European Union public service twinning project for the Georgian National Agency for Standards and Metrology has launched in Georgia, the Economy Ministry announced on Wednesday.
The first batch of Georgian snails has been exported from Georgia to Italy, with the shipment including up to three tonnes of the product, the Georgian National Food Agency announced on Friday.
The number of people in Georgia who believe the country should limit its economic ties with Russia has increased by 16 percent, a new survey published by the National Democratic Institute on Thursday shows.
The European Union has been named as the most important economic partner of Georgia by 54 percent of citizens of the country in a new nationwide survey conducted by the International Republican Institute.
Georgian economy minister Levan Davitashvili and European Union ambassador to Georgia Pawel Herczynski on Friday welcomed the dynamics of the development of economic relations between the country and the bloc, making a particular mention of the implementation of the 2014-signed association agreement, the ministry of economy said.
Georgian economy minister Levan Davitashvili on Wednesday held meetings with the European commissioner for energy Kadri Simson and the commissioner for transport Adina Vălean, within the framework of a working visit to Brussels, discussing the relations between Georgia and the European Union, the fulfilment of obligations defined by the Association Agreement and other priority areas of cooperation.
Georgian economy minister Levan Davitashvili on Wednesday said Georgia could be a “leader” in the process of connecting the countries of the South Caucasus and Central Asian regions with the European Union.
The Association Committee on Trade Issues, created within the 2014-signed Deep and Comprehensive Free Trade Area agreement between Georgia and the European Union, this week discussed the country’s implementation of its obligations under the deal in Brussels.