Before Brexit came into force, we negotiated with the UK government, signed and ratified the free trade agreement. We now expect the same from Britain. We expect it to ratify the agreement in about a month. It is important that we complete this process in time,“ said Arveladze. The parties recognize that economic development, social development and environmental protection are interdependent. In Chapter 10, they reaffirm their commitment to multilateral environmental and labour contracts and principles and commit to maintaining their level of protection. Arbitration procedures do not apply to this chapter. Georgia also has a free trade agreement with the Republic of China (including Hong Kong). The rules of origin and methods of administrative cooperation between customs authorities (Annex II) are governed by the regional convention on rules of pan-Mediterranean origin. This will allow the accumulation of materials from the EFTA, Georgia and other Pan-Euro Med Member States as soon as the relevant agreements between the parties concerned have been concluded. The Association Agreement („AA“) with the EU was signed and ratified in 2014, including the Comprehensive and Comprehensive Free Trade Agreement („ACFTA“).

In addition, on 27 June 2016, Georgia signed a free trade agreement with EFTA countries, which allows Georgian products duty-free access to the markets of Iceland, Liechtenstein, Norway and Switzerland. It has been five years since the DCFTA was implemented and two years have passed since the free trade agreement with China. It is interesting to carry out ex post analyses to determine the impact of these free trade agreements on the Georgian economy. The ex post analysis will aim to determine the quantitative and qualitative effects observed after Georgia`s signing of the DCFTA and the free trade agreement with China at the macro-sectoral level. In addition, the research paper will seek to determine whether the DCFTA and free trade agreements with China have generated welfare gains. Specifically, the document seeks to determine whether the increase in trade was due to the creation of trade or whether trade was diverted. Deputy Economy Minister Genadi Arveladze met on 8 and 9 February with media representatives on the affairs of the DCFTA, where one of the main topics he discussed was the Georgian Free Trade Agreement. Another objective is to analyze the quantitative impact on imports and exports at different levels of aggregation. Finally, the research paper will analyze the differences and similarities between the CCFTA and the free trade agreement with China and identify, based on this empirical knowledge, the threats and opportunities that could arise from future free trade agreements.

Categories: Allgemein