EU remains Georgia's main trading partner
Date
9/20/2021 12:19:25 AM
(MENAFN- Trend News Agency ) BAKU, Azerbaijan, Sept.19
Tamilla Mammadova – Trend:
Economic development and job creation are key priorities in Georgia, EU Delegation in Georgia told Trend .
"The EU is Georgia's main trading partner, with a 27 percent share of its total trade. The ongoing opening of the EU market to more Georgian products continually offers Georgians new export and income opportunities", said the source.
Small and medium enterprises (SMEs) are the backbone of the Georgian economy. To support their development, the EU provides funding, training, and export support through its EU4Business initiative, the EU added.
"Since 2009, 40,000 SMEs, microenterprises and farmers have received loans. In addition, a total of 130 million euros in loans
are made available for innovative SMEs and medium market value (midcap) companies under Horizon 2020. This has led to the
creation of an estimated 10,300 new jobs," the EU noted.
As the source added, through its ENPARD program, the EU is modernizing Georgian agriculture by supporting the rollout of the agriculture cooperative model, leading to the establishment of 1,200 cooperatives in Georgia. The EU's financial and technical support aims to help farmers improve their working conditions and income. EU support has also helped establish 59 information and consultation centers around the country, which have trained over 250,000 farmers.
"Through Local Action Groups, the EU has supported 360 local development initiatives in rural areas, which have provided better
employment conditions for over 1,000 households and improved living conditions for over 10,000 people," said the EU.
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