Georgian Ministry of Foreign Affairs published a statement on the 7th anniversary of the EU-Georgia Association Agreement. Seven years ago, on June 27, Georgia signed the Association Agreement (AA) with the European Union in Brussels.

“Georgia continues to align itself with European regulations and legislative directives and is recognized as a leading reformer in the Eastern Partnership region.

The Association Agreement with the Free Trade Association (DCFTA) gave a new impetus to Georgia-EU trade and economic relations development. The exports of national products from Georgia increased (15%). The European Union is becoming Georgia’s key trading partner (24%). The agreement also helped to improve the investment climate in Georgia, in particular by investing in the territory of Georgia and producing products. The investors are allowed to export their products to the EU market without tariffs. Energy cooperation with the European Union has entered a new phase. Georgia joined the European Energy Union in 2016.

EU assistance to Georgia has increased significantly, exceeding one billion euros in total over the last seven years. Under the agreement, the amount of EU financial assistance gradually increases, annually amounting to 120-130 million euros in a bilateral format. Georgia is additionally involved in various regional assistance programs in a multilateral format,” the statement by the Ministry of Foreign Affairs reads.

According to Georgian MFA, the successful implementation of the reforms under the Association Agreement has contributed to the successful completion of the visa liberalization process in 2017.

“As a result of these achievements, by 2024, Georgia plans to ensure 60-65% fulfilment of the agreement and apply for full membership in the European Union”, the statement by the Ministry of Foreign Affairs reads.