Mr Genadi Arveladze, Deputy Minister of Economy and Sustainable Development, led the Georgian delegation, while Mr Jan Farberg, Director-General of the Ministry of Trade, Industry and Fisheries of Norway, acted as the EFTA Spokesperson.
Delegations pursued their work efficiently and in a constructive manner, allowing to finalise the negotiations on the FTA. The Agreement will comprise the following: Trade in Goods (including TBT, SPS, Trade Remedies and Trade Facilitation), Rules of Origin, Trade in Services, Establishment, Intellectual Property Rights, Government Procurement, Competition, Trade and Sustainable Development and Legal and Institutional Issues (including Dispute Settlement, General and Final Provisions).
The negotiations towards an FTA were preceded by the signing of a Joint Declaration on Cooperation (JDC) between the Parties on 28 June 2012, as well as discussions in September 2014 and February 2015 on the modalities of negotiations in the framework of the Joint Committee established under the JDC.
The Parties aim to swiftly conclude the legal review of the FTA and foresee to sign it during the EFTA Ministerial Meeting on 27 June 2016 in Bern, Switzerland.
The total value of commodity trade between the EFTA States and Georgia has more than doubled since 2009, reaching USD 60 million in 2014. The stock of foreign direct investment in Georgia’s economy originating from the EFTA States has also grown significantly, and stood at approximately USD 400 million in 2012.
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