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Dcfta Agreement Georgia

The Deep and Comprehensive Free Trade Agreement (DCFTA) between the European Union (EU) and Georgia is a significant milestone in the country`s history. The agreement, which came into effect in 2016, is a comprehensive trade and investment pact that aims to deepen economic ties between the EU and Georgia.

Under the DCFTA agreement, Georgia is granted greater access to EU markets, while EU companies are given access to the Georgian market. The agreement is expected to boost the country`s economy by increasing trade and investment flows, creating jobs, and promoting economic growth.

One of the key benefits of the DCFTA agreement for Georgia is the elimination of tariffs on goods traded between the EU and Georgia. This means that Georgian exporters can now sell their products in the EU market without having to pay any tariffs. In turn, this will make Georgian products more competitive in the EU market, leading to increased exports and economic growth.

The DCFTA agreement also includes provisions related to the protection of intellectual property, technical regulations, and sanitary and phytosanitary measures. These provisions aim to ensure that products traded between the EU and Georgia meet certain standards, promoting consumer protection and safety.

Another important aspect of the DCFTA agreement is the promotion of investment between the EU and Georgia. This includes the protection of investors and their investments, as well as the establishment of a framework for resolving disputes related to investment.

Overall, the DCFTA agreement between the EU and Georgia is a significant milestone for the country, as it opens up new opportunities for trade and investment. With the elimination of tariffs on goods traded between the EU and Georgia and the promotion of investment, the agreement is expected to boost the country`s economy and create jobs, contributing to long-term growth and prosperity.