Monday, 25 October 2021 02:01 GMT

Georgia sees economic growth over last few years - EU


(MENAFN- Trend News Agency ) BAKU, Azerbaijan, Sept.23

Tamilla Mammadova – Trend:

Georgia has seen solid economic growth over the last few years, made possible partly due to ongoing economic reforms, the EU Delegation in Georgia told Trend .

According to the source, these reforms included overhauling tax collection procedures, fighting against corruption, opening up the country to foreign trade and investment, improving infrastructure and simplifying the business environment.

"The EU supports Georgia in developing its economic potential through international cooperation. This includes assistance in alignment with EU legislative standard," the source added.

The EU is also helping Georgia implement systematic Public Finance Management reform, whereby efficient budgeting, accounting and auditing of public resources will result in more effective allocation. The EU also supports the regional economic development policy of Georgia which creates new opportunities, the EU noted.

"Trade between the EU and Georgia has been growing steadily over the years and today the EU is Georgia's main trading partner. The DCFTA deepens Georgia's economic ties with the EU, and includes provisions on public procurement, common customs' rules, along with technical and sanitary standards for goods such as food items, intellectual property rights and competition rules," added the source.

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