Deep and Comprehensive Free Trade Area (DCFTA) agreement between Georgia and the EU had made a “significant contribution” to the growth of foreign trade and exports in Georgia, - Deputy Economy Minister Genadi Arveladze said in the parliament on Tuesday.
The Deputy Minister also noted in his report, that Georgia’s turnover with the EU grew by 19% last year and totalled 21% of the country’s total trade turnover, adding exports from Georgia to the EU market had increased by three percent, out of a total of 17% of Georgian exports.
During an address to the parliament, Arveladze said that 962 companies were involved in exporting to the EU in 2021 and the growth comprised of more than 70%. As of agricultural products exports to the EU had increased by 14% in 2021, including: Nuts and hazelnuts - 12%; Mineral water - 20%, Wine - 20%, Sugar-containing carbonated waters - 97%, Fruit juices - 6%, Canned fruits and vegetables - 11%.
"It is also noteworthy that in line with the improvement of economic activity in 2021, foreign trade data exceeded the pre-pandemic rate. Exports grew by 26.9% and reached a record high of 4 billion 222 million USD. In 2021, Georgia's trade turnover increased by 19%, exports from Georgia to the EU increased by 3%. The number of exporting companies is also growing from year to year. In order to fully implement the DCFTA, we are implementing important reforms, including the approximation of Georgian legislation with EU legislation, which implies the introduction of European standards and approximation to European best practices. We have significant progress in this area”, - Genadi Arveladze said.
