The FINANCIAL — The free trade agreement between Georgia and European Free Trade Association (EFTA) entered into force on 1st September 2017.
At this stage the agreement entered into force only among Georgia, Norway and Iceland. For Switzerland and Lichtenstein the agreement will enter into force in 3 month after the ratification of the agreement by both countries.
Georgia-EFTA FTA has been signed on 27th of June 2016 in Bern, Switzerland during the EFTA Ministerial.
It has to be noted that from the beginning parties agreed to conduct 4 rounds of negotiations, however negotiations have been finalized in 3 rounds due to the partie’s effective and productive cooperation.
The agreement allows Georgian producers to export majority of their goods without tariff barriers to the additional 14-mln high purchasing power consumer market, according to Ministry of Economy and Sustainable Development of Georgia.
The agreement covers following issues: trade in goods, trade in services, sanitary and phytosanitary measures, technical barriers to trade, rules of origin, customs and trade facilitation, intellectual property rights, public procurement, competition, trade remedies and sustainable development.