15.Feb .2021 10:30

What will Georgia-Turkish Agreement change the business?

What will Georgia-Turkish Agreement change the business?
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"The Parliament of the Republic of Turkey has made a very important decision, which we and some of our businesses have been waiting for 4 years," - said the Minister of Economy and Sustainable Development Natia Turnava.

Ratification of the Agreement will enable business operators to export products, manufactured with Turkish raw materials to the EU countries within the frame of the Free Trade Agreement.

“Ratification of this agreement is important for those industries which use raw materials imported from Turkey for industrial production. We are talking about non-food production, such as textiles, garment industry, production of furniture, plastic and building materials, etc., "- said the Minister.

According to Trunava, textile products worth 80 million USD more can be exported to the EU market and benefit from a free trade agreement.

According to the Minister, the ratification of the agreement was especially attractive to the garment industry, which employs many people in Georgia.

“This is an opportunity to increase our export potential to the EU. Little formality is left and this mechanism will be enacted”, Turnava noted.