...

Georgian-Turkish agreement to be especially attractive to Georgian garment industry

Business Materials 15 February 2021 14:05 (UTC +04:00)
Georgian-Turkish agreement to be especially attractive to Georgian garment industry

BAKU, Azerbaijan, Feb. 15

By Tamilla Mamedova - Trend:

The Parliament of the Republic of Turkey has made a very important decision, which Georgia and some of its businesses have been waiting for 4 years, said the Minister of Economy and Sustainable Development Natia Turnava, Trend reports via Georgian media.

Ratification of the Agreement will enable business operators to export products, manufactured with Turkish raw materials to the EU countries within the frame of the Free Trade Agreement.

“Ratification of this agreement is important for those industries which use raw materials imported from Turkey for industrial production. We are talking about non-food production, such as textiles, garment industry, production of furniture, plastic and building materials, etc.," said the minister.

According to Turnava, textile products worth $80 million more can be exported to the EU market and benefit from a free trade agreement.

As she said, the ratification of the agreement was especially attractive to the garment industry, which employs many people in Georgia.

“This is an opportunity to increase our export potential to the EU. Little formality is left and this mechanism will be enacted”, Turnava noted.

The new agreement between Georgia and Turkey will encourage Turkish investments in the Georgian economy, establish joint companies and create new jobs. Georgia-made products that include Turkish raw materials will be exported to the EU market under the Free Trade Agreement.

---

Follow the author on Twitter: @Mila61979356

Tags:
Latest

Latest