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17:03 27.06.2021(updated 17:19 06/27/2021) Get a short link

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The financial assistance of the European Union to Georgia over the past seven years has exceeded 1 billion euros, in addition, the country participates in various regional assistance programs

TBILISI, June 27 – Sputnik. Georgia plans to apply for full membership in the European Union by 2024 and to fulfill the Association Agreement by 60-65%, the Foreign Ministry said in a statement marking the seven-year anniversary of the signing of the document.

As noted in the statement, seven years after the signing of the Agreement, the country has made significant progress in integration with the EU, with concrete tangible results and approximation to EU standards at the legislative and institutional levels.

“The Association Agreement with the European Union, which includes free trade (DCFTA), gave a new impetus to the development of trade and economic relations between Georgia and the EU, including an increase in the export of national products from Georgia (15%), and the EU became Georgia’s main trading partner (24 %) “, – the statement says.

The agreement also helped improve the investment climate in Georgia through investment and production. Manufacturers can now export their products to the EU market without tariffs. Energy cooperation with the EU also reached a new level of development – in 2016 Georgia joined the European Energy Union.

The EU assistance to Georgia has significantly increased – the amount over the past seven years has exceeded 1 billion euros.

According to the agreement, the volume of EU financial assistance is gradually increasing, which annually amounts to 120-130 million euros only in a bilateral format, and Georgia additionally participates in various regional assistance programs in a multilateral format.

In 2014, on July 27, the European Union and Georgia signed an Association Agreement, an integral part of which is the Deep and Comprehensive Free Trade Area Agreement. The abolition of visas with the European Union in 2017 allowed Georgian citizens with biometric passports to enter the territory of the Schengen countries for up to 90 days every six months.

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