Will Georgia be able to utilize its free trade benefits?
Tuesday, October 21Georgia’s leadership is very enthusiastic over the prospects of a free trade regime with the USA and EU. However, some analysts have a different view.
Former President of the National Bank Nodar Javakhishvili believes that Georgia has no chance to develop free trade relations with the US and EU and has no resources to offer. He thinks that a free trade agreement is being seen as a political rather than an economic step. Javakhishvili maintains that the US and EU giving certain quotas for Georgian products does not necessarily mean that those products will actually enter the USA and European markets.
The US is offering to allow around 5,000 products to enter its market with zero customs duties. Negotiations with the EU will start next spring, but recently an EU delegation visited Georgia on a reconnaissance mission.
The Georgian authorities are very much hoping that these free trade agreements will make the Georgian economy more attractive for investors.