The FINANCIAL -- Expansion of the Free Trade Agreement between Georgia and Turkey was the main issues discussed by the Minister of Economy and Sustainable Development of Georgia, Giorgi Gakharia and the Minister of Economy of Turkey, Nihat Ziebekchy at the meeting in Istanbul.
On July 10, Giorgi Gakharia left for Turkey where he participated in the 22nd World Petroleum Congress and held a meeting with the Prime Minister of Turkey, Binali Yıldırım, according to Ministry of Economy and Sustainable Development of Georgia.
Giorgi Gakharia, at the meeting with the Minister of Economy of Turkey, talked about the opportunities in terms of increasing the volume of export and import and the further liberalization of the Free Trade Agreement. Georgian Economy Minister strongly emphasized on the importance of the JETCO, which was signed by the Ministers of the two countries within the frames of the official visit of the Prime Minister of Turkey, Binali Yildirim to Georgia in May, 2017. Giorgi Gakharia highlighted that it would be another step forward the development of the economic cooperation between the two neighboring countries and accelerate the Free Trade expansion process, which envisages further liberalization of the trade of goods and adding the component of liberalization of the trade of services.
According to the data of the 5 months of 2017, Turkey is at the top of the 10 main trade partners to Georgia with 15% share in Georgia’s total trade turnover. It should be noted that during the same period, the export volume of Georgian products is increased by 17% and amounts to 97.1 million USD.