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Georgia and the United Arab Emirates (UAE) signed an agreement on comprehensive economic cooperation, which simplifies and regulates trade and other economic relations between the two countries.
“By 2030, the number of countries Georgia will establish a free trade regime with will increase by seven. These countries are Israel, India, South Korea, Serbia, the USA, the United Arab Emirates and Indonesia,” - the Vision 2030 - Development Strategy of Georgia reads.
"The share of the countries with free trade regime in Georgia's exports will increase, and products of Georgian origin will have access to 2/3 of the consumer market under the free trade regime, which represents 72% of the world's population," - the document reads.
In the Vision 2030, the government promises that "the state will continue to work on the possible signing of a free trade agreement with the US."
In addition, consultations are underway with Moldova on the draft protocol for amendments to the bilateral free trade agreement between Georgia and Moldova, which includes a provision on the use of the cumulative method by the parties in trade with the European Union.
To be reminded, the so-called diagonal cumulation agreement is valid from 2021 between Georgia, the European Union and Turkey. After the implementation of the diagonal cumulation, it became possible to export products made on the basis of industrial raw materials imported from Turkey to the EU market under the free trade regime. The agreement does not apply to agricultural products, as the customs union signed between the EU and Turkey does not cover agricultural products.
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