Ukraine makes changes to Free Trade Agreement with Georgia

On May 21 First Deputy Prime Minister Stepan Kubiv and the Minister of Economy of Georgia Natella Tournovo signed the Protocol, according to which changes are made to Agreement between the Government of Ukraine and the Government of the Republic of Georgia on free trade. It is reported by the press service of Ministry of Economic Development and Trade of Ukraine.

Thanks to the changes introduced, countries will be able to use identical rules of origin for goods in bilateral trade and apply the provisions of the Regional Convention on Pan-Euro-Mediterranean Preferential Rules of Origin (Pan-Euro-Med).

“Changes in Free Trade Agreement with Georgia will allow us to create the first effective triangle of diagonal cumulating of the EU-Ukraine-Georgia. In practice, this means that Ukrainian producers will be able to import raw materials and components from Georgia, process them in Ukraine and export, for example, to Germany with Ukrainian certificates of origin with zero or preferential duty rates. Pan-Euro-Med is one of the tools for changing the emphasis of international trade on the export of mainly raw materials for the export of more high-tech products with value added, which is being formed in Ukraine,” said Kubiv.

These changes will come into force after ratification by the parliaments of both countries.

Recall that the free trade regime between Ukraine and Georgia has been in effect since 1996.

Earlier, the “Journalist” reported that President of Georgia called on Zelensky to unite regarding European integration and NATO membership.