Signing of association agreement with Georgia to greatly intensify relations between sides

Photo: Signing of association agreement with Georgia to greatly intensify relations between sides / Georgia

Tbilisi, Georgia, June 24
By Nana Kirtzkhalia - Trend:

The signing of the association agreement with Georgia, Moldova and the completion of this process with Ukraine is an important moment for the EU and these countries, according to the EU statement in connection with the upcoming signing of an association agreement with Georgia, Moldova and Ukraine on June 27.

Signing the agreement will greatly intensify the political and economic ties between the sides with the prospect of closer political relations and economic integration, according to the statement.

"The association agreement is aimed at intensifying the political and economic relations among the EU and other participants, the phased implementation of their integration into the EU internal market, which is the largest in the world," according to a statement.

It is also stressed that after the agreement is signed, much will be done in terms of internal reforms. In this regard, the EU and each of these countries cooperate in the implementation of the following issues, namely, strengthening of the rule of law, implementing of the judicial reform, fight against corruption, strengthening of democratic institutions and respect for fundamental rights and freedoms.

In particular, the EU statement concerning Georgia stressed that when the agreement enters into force, trade relations between the EU and Georgia will improve.

At the same time, the EU stressed that the additional benefit depends on the implementation of reforms.

"All this will contribute to the development of trade and investments," according to the statement. "This is especially important for Georgia, which needs more foreign investments for its own economic growth. The EU market will be available for Georgian enterprises without a transition period. Nevertheless, it is also true that the additional benefit for Georgia depends on the implementation of reforms."

The association agreement with Georgia significantly differs from the classical forms of economic integration. It offers not only improving trade and investment opportunities, but also helps in trade reforms. It is necessary to contribute to economic recovery and its growth and promote the Georgian economy to better integrate into the world market. If these reforms are implemented, 4.3 percent annual economic growth is forecasted."

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