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EFTA Delegation Visits Georgia To Promote FTA Talks

by Ulrika Lomas, Tax-News.com, Brussels

01 December 2015


A delegation from the European Free Trade Association (EFTA) Parliamentary Committee visited Georgia from November 23 to 26, 2015, to promote trade cooperation between EFTA and Georgia, and to support negotiations on a free trade agreement (FTA).

Georgia and the EFTA states – Iceland, Liechtenstein, Norway, and Switzerland – held a first round of negotiations on an FTA at the beginning of September this year. The main purpose of the delegation's recent visit was to strengthen the parliamentary dimension of the free trade negotiations and to exchange views with legislators and officials in the ongoing talks.

The delegation was headed by Kathy Riklin, a Member of the Swiss Parliament, who underlined that the EFTA parliamentarians strongly support the aim of achieving a comprehensive FTA. She expressed her hope that EFTA and Georgia would settle on an ambitious agreement that would lead to stronger trade relations between the two parties.

The total value of commodity trade between the EFTA states and Georgia has almost doubled since 2010, peaking at USD66m in 2013. The stock of foreign direct investment in Georgia's economy originating from the EFTA states has also grown significantly, reaching USD411m in 2012.

EFTA currently has 25 FTAs in place covering 36 countries.

TAGS: tax | investment | free trade agreement (FTA) | Iceland | export duty | tariffs | Liechtenstein | Norway | Georgia | Switzerland | import duty | trade | Europe

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