The European Union market has been becoming “more stable and predictable” for Georgian exporters, increasing exports of goods to the EU countries to a “record” number, Georgian Deputy Economy Minister Genadi Arveladze said on Friday.
Arveladze introduced a report on the 2023 national action plan and the implementation of the 2022 Deep and Comprehensive Free Trade Area agreement between Georgia and the EU to the Parliament’s European Integration Committee, the Economy Ministry said.
The Deep and Comprehensive Free Trade Area deal played an important role in the “positive dynamics” of trade with the EU, the Deputy Minister said and highlighted the last year’s “record” export figures, which had exceeded $800 million and “significantly” increased the number of exporting companies, around up to 1000.
It is noteworthy that before 2014 these figures were much lower. Today, we have an absolutely different reality and different numbers", Arveladze added.
Georgia’s trade turnover in 2022, with the EU, increased by 29 percent, amounting to $3,912 million and accounted for 21 percent of the country’s total external trade turnover, while exporting companies increased by 71 percent compared to 2014 with a total number of 961.