EU candidate status is “successful completion” of one stage, beginning of another - Economy Minister

Georgian Economy Minister Levan Davitashvili on Saturday said obtaining the European Union membership candidate status by the country was “a successful completion” of one stage and the beginning of a new one on the EU integration path.

In an interview with Public Broadcaster, Davitashvili noted the so-called third phase of the EU’s pre-accession process included “a multi-billion” aid package allocated for candidate countries to successfully implement their reforms and develop countries for future full membership of the bloc.

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The Minister stressed access “to these important funds” was “an opportunity” for the countries, but “a challenge” as well, as the states had to manage and use these aids for interesting projects and important reforms.

Answering the question about the Georgian business sector’s readiness to become “more competitive” in the European market, Davitashvili said the state had been spending “hundreds of millions” every year in this regard, emphasising the need for the business sector to adapt to international demands and 500-million-strong and “highly competitive” EU market.

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He also pointed out that the EU candidate status granted to Georgia would send “a very positive signal” for European investors, as well as for investors from other countries, to invest in various large projects in the country.