Awareness of Georgian products in EU market significantly increases

Awareness of Georgian products in EU market significantly increases

BAKU, Azerbaijan, Feb. 10

By Tamilla Mammadova – Trend:

Georgian Deputy Minister of Economy Genadi Arveladze introduced the implementation of the National Action Plan on Deep and Comprehensive Free Trade Areas (DCFTA) for 2020 to the Parliament’s Committee, Trend reports via Georgian media.

According to the deputy minister, the problems created in the international trade amid the global pandemic reduced the bilateral trade with the EU by 18 percent and amounted to $2.63 billion, which occupied 23 percent of Georgia's trade turnover. Exports fell by 12.5 percent to $717 and accounted for 21 percent of the total volume.

According to Arveladze, over 850 exporters entered the EU market in 2020. The turnover of agricultural products such as wine, mineral water, spirits, fruit juices, canned fruits, and vegetables increased, while fish and fish products were exported for the first time.

"Before the entry into force of the DCFTA, products of Georgian origin accounted for 65 percent of EU exports, after the entry into force of the agreement, the EU market with products made in Georgia increased by 24 percent. The number of exporters to the EU market increased by 51 percent in the country," Arveladze said.

The awareness of Georgian products in the EU market has significantly increased. Work is underway to increase the types of exported products as well.

The Deputy Minister of Economy also introduced the Medium Term Action Plan (2021-2023) for the implementation of the Deep and Comprehensive Free Trade Agreement between Georgia and the European Union, outlining the measures to be taken to increase trade relations with the EU.

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