EU Approves Funding for Georgia’s DCFTA Implementation

The European Union has approved a 6 million euro payment for Georgia, the first tranche of a 45 million euro program supporting implementation of the deep and comprehensive free trade (DCFTA) and small and medium sized enterprises in Georgia on its path toward European integration.

Many are seeing this as a clear signal of the EU’s determination to support Georgia in the implementation of the Association Agreement, promoting small and medium sized businesses and inclusive economic growth. Subsequent tranches will depend on the implementation of trade policy reforms, as well as small and medium sized businesses, implementing macroeconomic policies and public financial management.

The program, which is to span three years, will assist Georgia in the implementation of the DCFTA, namely in the following four areas: (1) – further strengthening the policy framework for trade for small and medium sized businesses. (2) - improving the function of the institutes and supporting trade and the private sector. (3) – strengthening economic factors and medium sized business, in line with the DCFTA and adjusting to the new regulatory environment. (4) - economic integration of returned migrants, as well as women in business and young employers.

Nino Ioseliani

Photo from: Huffington Post