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Georgia

Georgia

On 27 June 2014 the EU and Georgia signed an Association Agreement and have applied it provisionally since 1 September 2014.  

The Agreement introduces a preferential trade regime – the Deep and Comprehensive Free Trade Area (DCFTA).

Georgia has been a member of the World Trade Organisation since 2000.

Trade picture

  • The EU is the main trade partner of Georgia. 26.1% of its trade takes place with the EU, followed by Turkey (17.2%) and Azerbaijan (10.3%).
  • For the EU, trade with Georgia accounts for 0.1% of its total trade. with a total turnover of EUR 2.6 billion in 2014. 
  • EU exports to Georgia amounted in 2014 to EUR 1.91 billion. The key export products are mineral products, machinery and appliances, chemical products and transport equipment.
  • The EU imports from Georgia focus on mineral products, agricultural products (such as hazelnuts), base metals and chemical products. In 2014, the EU imported from Georgia goods to the value of EUR 657 million.

EU-Georgia "trade in goods" statistics

Trade in goods 2013-2015, € billions
Year EU imports EU exports Balance
2013 0.7 2.0 1.4
2014 0.7 1.9 1.3
2015 0.7 1.8 1.1

EU-Georgia "trade in services" statistics

Trade in services 2012-2014, € billions
Year EU imports EU exports Balance
2012 0.2 0.4 0.1
2013 0.3 0.5 0.2
2014 0.3 0.5 0.1

Foreign direct investment

Foreign direct investment 2014, € billions
Year Inward stocks Outward stocks Balance
2014 -1.4 3.7 5.1

Date of retrieval: 14/04/2016

More statistics on Georgia

EU and Georgia

  • Georgia continues to benefit from the unilateral Generalised Scheme of Preferences (GSP). Under the current GSP Regulation – applicable since 1 January 2014 – Georgia qualifies for a special incentive which rewards sustainable development and good governance (GSP+) with advantageous access to the EU market.  Georgia will continue to be a beneficiary of the GSP+ until 31 December 2016.  This transition period will allow business to adjust to the new preferential trade regime provided by the DCFTA.
  • The DCFTA is about the closer economic integration of Georgia with the EU, based on reforms in trade and trade-related areas.  It is based on the principles of the World Trade Organisation.  It removes all import duties on goods and provides for broad mutual access to trade in services. It also includes provisions on establishment, which will allow EU and Georgian companies to set up a subsidiary or a branch office on a non-discriminatory basis, benefitting from the same treatment as domestic companies in the partner’s market. 
  • An important part of the DCFTA is approximation of Georgian trade-related laws to the selected pieces of the EU legal framework.  Adoption by Georgia of EU approaches to policy-making will improve the quality of governance, strengthen the rule of law and provide more economic opportunities by opening further the EU market to Georgian goods and services. It will also attract foreign investment to Georgia.

Georgia and the European Neighbourhood Policy

Georgia is a partner country of the Eastern Partnership within the European Neighborhood Policy. In 2014, the EU and Georgia agreed an Association Agenda. The Agenda outlines the priorities for reform in Georgia, and is based on the commitments included in the 2014 Association Agreement. It replaces the 2005 EU-Georgia Action Plan.

The ENP progress reports issued annually by the EU document the steps undertaken by Georgia in the reform process.  

Trading with Georgia