Georgia Signs Free Trade Agreement with EFTA Member States

On 27 June, 2016, in Bern (Switzerland), during a meeting of the ministers of the European Free Trade Association, Georgia signed a Memorandum with the European Free Trade Association (EFTA) for future collaboration.

Present were the Prime Minister of Georgia, Giorgi Kvirikashvili, together with Vice-Premier Dimitry Kumsishvili and other Georgian representatives.

The EFTA consists of four member states- Switzerland, Lichtenshtein, Norway and Iceland.

Through this Agreement, Georgia will be able to send Georgian-made products to EFTA’s market with an expected 14 mln GEL profit. The Agreement covers the following fields: goods trade, service trade, sanitary and phytosanitary measures; technical barriers in trade; regulations, trade facilitation and customs cooperation; investments; intellectual property rights; government procurement; competition; trade protection measures, and sustainable development.

The talks between the parties began in September 2015 with negotiations successfully completed on 26 February, 2016. The agreement has entered into force upon signing by all parties.

Dimitri Dolaberidze