30/04/2024
11:16
Economic
The third final round of the free trade agreement between Georgia and the United Arab Emirates took place.
The Finance and Budget Committee of the Parliament of Georgia discussed the documents submitted for ratification.
The Deputy Minister of Economy and Sustainable Development of Georgia Genadi Arveladze introduced the Comprehensive Economic Partnership Agreement (CEPA) between Georgia and the United Arab Emirates to the MPs. According to him, after the Comprehensive Economic Partnership Agreement with the United Arab Emirates comes into force, Georgia will benefit from the free trade regime. A market with a purchasing power of $10 million will be opened for Georgia.
At the meeting, the First Deputy Minister of Finance of Georgia, Giorgi Kakauridze, represented the “Loan Agreement between Georgia and the European Bank for Reconstruction and Development (Tbilisi Waste Processing Project)”. He said the cost of the project was 26 million euros, of which 22 million euros were a loan taken from the European Bank for Reconstruction and Development, and the rest was the amount allocated from the Green Climate Fund. According to him, the amount will be transferred to the Tbilisi Municipality City Hall.
Giorgi Kakauridze briefed the MPs on the N2 amendment agreement - "January 5, 2018 loan agreement between Georgia and the European Bank for Reconstruction and Development (the Enguri HPP Rehabilitation Project -Climate Resilience Upgrade project)" .
Kakauridze stated the European Bank for Reconstruction and Development would allocate 28 million euros for the rehabilitation of energy security systems.
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