Georgia, India Complete Free Trade Feasibility Study

The Ministry of Economy and Sustainable Development of Georgia and the Ministry of Commerce and Industry of India have completed a Joint Feasibility Study on Free Trade Agreement (FTA).

Georgia’s Deputy Economy Minister Genadi Arveladze and India’s Additional Secretary of Commerce Bidyut Behari Swain signed the respective document on January 11.

According to the Georgian Ministry of Economy, the feasibility study identified that free trade agreement between Georgia and India would positively reflect on the two economies, would increase trade turnover and create new investment opportunities.

“The study recommends that the sides start talks on free trade agreement through establishing a committee for negotiations,” reads the Ministry’s press release.

Georgia’s trade turnover with India, according to the State Statistics Office Geostat, stood at USD 56.91 million in 2017, with exports at USD 8.96 million (USD 22.2 million in 2016) and imports at USD 47.95 million (USD 77.51 million in 2016).

Georgia and India launched the FTA  Feasibility Study in April 2017.

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