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FTA between Georgia and EFTA comes into force
The free trade agreement between Georgia and the European Free Trade Association (EFTA), signed in 2016, has now fully entered into force, as reported by the Ministry of Economy and Sustainable Development of Georgia.
This free trade agreement with the EFTA entails that the markets of Switzerland, Norway, Iceland and Liechtenstein will open to Georgian goods.
The free trade agreement with the EFTA was formalised on 27 June 2016 in Bern. Since 1 September 2017, the agreement had partially come into force.
"The agreement makes it possible to supply Georgian products and services without tariff barriers to the 14 million people in EFTA countries," said the Ministry in a statement. The zero tariffs will apply to important agricultural product exports for Georgia. For certain groups of goods, tariffs have been reduced by almost half and will be kept to a minimum, which is important to increase the competitiveness of Georgian products in the EFTA market.
In 2014, the European Union and Georgia signed an association agreement, an integral part of which is an agreement on a free trade area.
Publication date: 5/7/2018
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