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European States, Georgia Continue FTA Talks

The European Free Trade Association (EFTA) said that it sent a delegation to Georgia on February 4, 2015, to discuss a timeframe for free trade negotiations.

At the meeting, the two sides decided to aim for a comprehensive free trade agreement (FTA) covering trade in goods, trade in services, investment, intellectual property rights, competition, government procurement, trade and sustainable development, and legal and institutional issues, including dispute settlement.

A first round of talks is planned for the summer of 2015 with the intention of concluding negotiations within a year.

The EFTA member states – Iceland, Liechtenstein, Norway and Switzerland – signed a Joint Declaration on Cooperation with Georgia in 2012 to further enhance their bilateral economic relations.

Trade between the EFTA states and Georgia has grown significantly in recent years. Georgia’s main exports to EFTA states are mainly mineral fuels/oil and aluminum. EFTA states mainly export pharmaceutical products, clocks and watches, and fish and marine products.

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