Georgia, UAE conclude comprehensive economic cooperation negotiations
The document, signed by Georgian and UAE officials, includes an estimated date of signing the agreement officially after the completion of domestic procedures. Based on the agreement, Georgia will benefit from a free trade regime with the UEA, opening additional opportunities for the country [exporting companies] to access 10 million markets with “high purchasing power”. Photo via Economy Ministry
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Georgia and the United Arab Emirates concluded negotiations on the comprehensive economic cooperation between the countries, with Georgian Economy Minister Levan Davitashvili and Thani bin Ahmed Al Zeyoudi, the UAE Minister of State for Foreign Trade, signing the joint statement on Friday.
Davitashvili said it was “a very important day” for economic cooperation between Georgia and the UAE and noted the signing of the “very complex” document would be a “new stage” and “important foundation” for the development of the trade ties, the Economy Ministry said.
Photo via Economy Ministry
The document, signed by Georgian and UAE officials, includes an estimated date of signing the agreement officially after the completion of domestic procedures. Based on the agreement, Georgia will benefit from a free trade regime with the UEA, opening additional opportunities for the country [exporting companies] to access 10 million markets with “high purchasing power”.
The comprehensive economic cooperation agreement will cover many areas of trade and economics, including trade in goods, rules of origin and procedures of origin, customs administration and trade facilitation, sanitary and phytosanitary measures, as well as technical barriers to trade, trade protection measures, investment, trade in services, digital commerce and other issues.
The countries have held three rounds of negotiations, the final round was held in Tbilisi between March 15-17, with Deputy Economy Minister Genadi Arveladze representing the Georgian side.