Deputy Minister of Economy, Genadi Arveladze introduced the implementation of the National Action Plan on DCFTA for 2020 to the Parliament’s Committee.
According to Arveladze, since the signing of the EUAA, the Ministry of Economy has been coordinating the implementation of trade-related issues in various areas covered by the agreement.
He spoke in detail about trade reforms, the development of which involved civil society and the private sector.
According to the Deputy Minister, the problems created in the international trade amid the global pandemic reduced the bilateral trade with the EU by 18% and amounted to 2 bln 637 mln USD, which occupied 23% of Georgia's trade turnover. Exports fell by 12.5% to 717 USD and accounted for 21% of the total volume.
According to Arveladze, over 850 exporters entered the EU market in 2020. The turnover of agricultural products such as wine, mineral water, spirits, fruit juices, canned fruits and vegetables increased, while fish and fish products were exported for the first time.
According to Genadi Arveladze, before the entry into force of the DCFTA, products of Georgian origin accounted for 65% of EU exports, after the entry into force of the agreement, the EU market with products made in Georgia increased by 24%. The number of exporters to the EU market increased by 51% in the country.
The awareness of Georgian products in the EU market has significantly increased. Work is underway to increase the types of exported products as well.
The speaker dwelt on the ongoing DCFTA awareness raising activities.
The Deputy Minister of Economy also introduced the Medium Term Action Plan (2021-2023) for the implementation of the Deep and Comprehensive Free Trade Agreement between Georgia and the European Union, outlining the measures to be taken to increase trade relations with the EU.
