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Georgia to extend grace period for auto importers

Business Materials 25 February 2021 13:07
Georgia to extend grace period for auto importers

BAKU, Azerbaijan, Feb.25

By Tamilla Mammadova – Trend:

The Georgian government decided to extend the grace period for auto importers until June 1, 2020, Trend reports via Georgian media.

In particular, the auto importers will be given an extra three months of grace period for the customs clearance of the vehicles imported in Georgia from October 1, 2019, to May 1, 2020.

Prime Minister of Georgia Irakli Gharibashvili also decided to cancel penalties imposed on the owners of vehicles.

“This grace period will apply to approximately 19,000 vehicle owners. We will also cancel the imposed fines. I think this decision will contribute to the development of the sector and will help the sector to quickly recover and return to the previous indicators in post-COVID conditions,” said Gharibashvili.

Auto exports value exceeded $4.4 billion in Georgia for 2020, being among the top exported commodities.

In 2019, car exports rebounded, but in 2020, due to the economic crisis caused by the pandemic and COVID regulations, it has dropped.

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