The UAE and Georgia conclude the Comprehensive Economic Partnership Agreement talks | Gulf newspaper

Dr. Thani bin Ahmed Al-Zeyoudi, Minister of State for Foreign Trade, and Levan Davitashvili, Deputy Prime Minister and Minister of Economy and Sustainable Development of Georgia, signed a joint statement to announce the completion of the talks aimed at reaching a comprehensive economic partnership agreement between the two friendly countries, which establishes a new era of deeper trade and investment relations. stronger, and more integrated between the two countries.

The signing of the joint statement took place in the capital, Tbilisi, during the visit of a high-ranking Emirati delegation to Georgia, which included participation in the UAE-Georgia Business Forum.

The Comprehensive Economic Partnership Agreement between the UAE and Georgia, when signed and subsequently entered into force, will strengthen and diversify bilateral trade and economic relations by eliminating or significantly reducing tariffs, removing non-tariff barriers, and supporting trade in goods, services and investment.

new opportunities

Al-Zeyoudi stressed that the comprehensive economic partnership agreement between the UAE and Georgia will provide important new opportunities for the private sector in both countries. Strategic importance, regionally and globally ».

Three rounds

For his part, Davitashvili expressed his belief that the comprehensive economic partnership agreement between the UAE and Georgia will be beneficial for both countries, as Georgia can be a gateway for Emirati companies to the markets of the surrounding region, through the geographical location and business environment it provides; On the other hand, the agreement will provide expanded opportunities to promote and develop various industries in Georgia and increase and diversify Georgian exports.

Fast forward

This agreement translates to the rapid progress in trade and investment relations between the UAE and Georgia. In 2022, the value of non-oil intra-trade amounted to $468 million (1.7 billion dirhams), which represents a record growth of 110% compared to 2021. (WAM)