The FINANCIAL — Free Trade Agreement between Georgia and all member states of and the European Free Trade Association (EFTA uniting Swiss Confederation, Norway, Iceland and Liechtenstein) becomes affective from May 1, 2018.
In line with Norway and Iceland, with which the agreement is effective since September 1, 2017, two members of the association – the Swiss Confederation and the Principality of Liechtenstein will also join the list of countries with which the EFTA will be enacted, according to Ministry of Economy and Sustainable Development of Georgia.
The free trade agreement between Georgia and the European Free Trade Association (EFTA) allows for a large portion of the products and services produced in Georgia to enter a 14-million consumer markets characterized with high purchasing power without any tariff barriers.
The Agreement covers the following aspects: trade with goods; trade with services; sanitary and phytosanitary measures; technical barriers to trading; production rules, promotion of trade and cooperation in customs issues; intellectual property; state procurement; competition; protective measures and sustainable development in trade.
Free Trade Agreement between Georgia and the EFTA was signed on 27 June, 2016 within the framework of the European Free Trade Association Ministerial, in Bern (Swiss Confederation).
It is noteworthy that initially in order to complete negotiations on free trade agreements with the EFTA countries, four rounds inteded, but as a result of effective and productive cooperation between the sides, these negotiations were successfully completed in three rounds.
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