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As initialled on 29 Nov 2013
Economic ties between the European Union and Georgia will be strengthened after the two successfully concluded talks on a free trade agreement.
Laima Andrikiene welcomed the steady progress in the EU negotiations with Armenia and Georgia and expected that political decisions on the conclusion of the Deep and Comprehensive Free Trade Agreements would be reached later this year
President Barack Obama said the U.S. supports Georgia’s aspirations to join NATO and is willing to explore the “possibility” of a free-trade agreement.
The EU and Georgia have launched negotiations on a "deep and comprehensive" free trade agreement
EU and Georgia are expected to launch talks on deep and comprehensive free trade agreement (DCFTA) “very soon”, provided that Georgia takes all the remaining steps required for beginning of these negotiations, an EU official said.
Preliminary talks on a free-trade regime are the "most difficult" part of a broad Association Agreement currently being negotiated between Georgia and the EU, possibly due to objections Tbilisi has raised against Russia joining the World Trade Organisation, Georgia’s chief negotiator has said in an interview.
On October 15 Georgian law enforcers detained Israeli businessmen offering Deputy Minister of Finance, Avtandil Kharadze USD 7 million for him to convince the Georgian Government not to challenge a decision of the International Centre for Settlement of Investment Disputes (ICSID).
An interview with Amy Denman, the Executive Director of the American Chamber of Commerce in Georgia
On the economic front, the two countries intend to pursue an Enhanced Bilateral Investment Treaty and to explore the possibility of a free-trade agreement.
Georgian Minister of Economic Development Ekaterina Sharashidze said last week that the US and Georgia will explore the possibility of a bilateral free trade agreement during a US delegation’s visit to Georgia this month.
A free trade agreement will be signed between Georgia and Turkey on Wednesday.
The US Senate has been discussing a resolution to create a free trade policy and deepen their government’s relationship with Georgia in a proposal authored by Senator Richard Lugar.
Turkey’s Undersecretariat of Foreign Trade will begin Free Trade Agreement (FTA) talks with four countries in the first half of this year in order to find new markets for Turkish businessmen and to extend current ones.
The EU is considering boosting trade with Georgia in an attempt to neutralise Russia’s sanctions against its neighbour, a move that Moscow is likely to view as a direct challenge to its interests. But according to one EU trade official such a deal would have an adverse impact on the Georgian economy, leaving it open to a flood of EU products and decimating local firms.