The final stage of negotiations on the economic cooperation agreement between Georgia and the Republic of Korea was held in Tbilisi on September 3-5; the parties agreed on such important areas as trade in goods and services, intellectual property rights, customs and other important issues.

The group of negotiators was led by Genadi Arveladze, Deputy Minister of Economy and Sustainable Development of Georgia, and Ryu Feomin, Director General of the Department of Trade Negotiations of the Ministry of Trade, Industry and Energy - from the Republic of Korea.

After the work on the text is fully completed, the document will be signed and after the completion of domestic procedures, the agreement will enter into force.

According to Genadi Arveladze, Deputy Minister of Economy and Sustainable Development of Georgia, the agreement on economic cooperation between the Republic of Korea and Georgia covers a wide range of economic partnership, including free trade. He noted that after the implementation of the agreement, Georgian suppliers of both goods and services would benefit from the rules of free trade when entering the consumer market of another country - Korea.

"The agreement also envisages cooperation in investment, transport, energy, tourism and other sectors. "Korea, with a population of more than 50 million, is a consumer market with high purchasing power, and establishing a free trade regime with it is a priority for Georgia," - Genadi Arveladze said.