( Civil ) - Georgia and the United States signed on June 20 an agreement "to help build trade and investment relations" between to two countries, Office of the U.S. Trade Representative reported.
Trade and Investment Framework Agreement (TIFA) was signed by U.S. deputy trade representative John Veroneau and Georgian Economy Minister Giorgi Arveladze in Washington.
The TIFA mandates the formation of a joint U.S.-Georgia Council on Trade and Investment which will address a wide range of issues including trade capacity building, intellectual property, labor, and environmental issues.
The Council will also help to increase commercial and investment opportunities by identifying and working to remove impediments to trade and investment flows between the U.S. and Georgia.
The first meeting of the Council is planned to take place in Washington on June 21.
"Increased trade and investment between our two countries will strengthen Georgia's efforts to reform and develop its economy and assist in its efforts to expand export markets... We expect this TIFA to provide a forum for concrete progress in this important work to the mutual benefit of both countries," John Veroneau said.