BAKU, Azerbaijan, Feb.10
By Tamilla Mammadova – Trend:
Last year, Georgia exported over 87 percent of the domestic export (including locally produced goods and services, including those of foreign origin that have been substantially changed through local processing) to the countries with which it has a free trade agreement, said Deputy Minister of Economy Genadi Arveladze, Trend reports citing Georgian media.
He made the remark at the meeting with the media representatives on Deep and Comprehensive Free Trade Areas (DCFTA) matters organized by the Ministry Economy and Sustainable Development of Georgia and the European Union within the framework of the project "Facility for the Implementation of the EU-Georgia Association Agreement-II".
According to the deputy minister, in 2019, domestic export amounted to $2.35 billion, which is 62.3 percent of the total export.
"The greatest share of the domestic export is exported to countries we have a free agreement with, which means that decisions about the free trade agreements were right,” said Arveladze.
In 2019, the significant volumes of domestic export were distributed among the Commonwealth of Independent States (CIS) – 36.4 percent, the European Union – 31.3 percent, China – 8.8 percent, and Turkey – 8 percent.
The share of domestic export with the EU countries increased from 22.6 percent to 31.3 percent after Georgia signed the Association Agreement with EU in 2014, which includes the Deep and Comprehensive Free Trade Area (DCFTA) with the European Union (EU).
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