Brussels, 29/02/2012 (Agence Europe) - Meeting in Tbilissi for the official launch of negotiations on a deep and comprehensive free trade area (DCFTA) between the EU and Georgia, Trade Commissioner Karel De Gucht and Georgia's Prime Minister Nika Gilauri said they hoped there would be an agreement within 18 to 24 months' time. Four sessions of talks are foreseen in 2012, with a first round table from 26 to 30 March in Brussels. “We carried out reforms in order to approach these negotiations. It includes food safety and creating a competition agency. And, if necessary, we are ready to go further”, Gilauri explained, noting that the agreement is “vital” to ensure that the Georgian economy becomes more attractive for foreign investment. Although he hailed the reform efforts made by that country, De Gucht said that there was still much to be done.
Negotiations come within the broader framework of an association agreement negotiated since July 2010 to extend the current scope of cooperation between the EU and Georgia, which is governed by a partnership and cooperation agreement in force since July 1999. Georgia already enjoys preferential access to the EU market via the Generalised System of Preferences Plus (GSP+). Gains arising from the future trade agreement will therefore come from the fact that regulatory barriers are lifted. The EU is Georgia's leading trading partners. Bilateral trade in goods reached €1.7 billion in 2010. (EH/transl.jl)