Page 34 - GEORptOct22

5.3 FTAs
Georgia, Ukraine, Azerbaijan and Moldova sign free trade zone protocol
Georgia and UAE discuss free trade agreement
Baku and Tbilisi intend to bring trade turnover to $1bn in 2022
The post-Soviet states of Georgia, Ukraine, Azerbaijan and Moldova have strengthened their relationship by creating a free trade zone, Ukraine Business News reported on September 22.
The foreign ministers of the GUAM countries signed the protocol in New York City with the plan to strengthen trade, energy and transport development between the four nations. The member states strive “to develop trade and economic co-operation, on the basis of equality and mutual benefit, creating conditions for the free movement of goods and services,” the protocol states. With Ukraine seeking foreign assistance in the reconstruction process, Dmytro Kuleba, the Minister of Foreign Affairs, invited the other three members to help redevelop the war-torn areas of Ukraine. Azerbaijan has already sponsored the restoration of a school in the shelled town of Irpin in Kyiv Oblast as part of its humanitarian assistance, Caspian News reported.
New York is currently hosting the UN General Assembly, where world leaders have discussed the war in Ukraine. US President Joe Biden condemned Russia's invasion as an act of "imperialism" and announced continued support for Ukraine. He mentioned that over 40 UN members have given billions to Ukraine, with the USA paving the way with more than $25bn to date.
Georgian Prime Minister Irakli Garibashvili and Ahmed Ali Al Sayegh, the State Minister of the United Arab Emirates for Economy and Trade, announced talks on a free trade agreement between the two countries following their meeting in Tbilisi on September 13.
The Government Administration said the discussions are commencing this month to upgrade the current trade and economic ties, with Al Sayegh praising Georgia's "favourable business environment" and noting several projects were being implemented in the country with UAE investments.
"The interest to invest in Georgia from the UAE is increasing", said Al Sayegh. Georgia also recently won visa-free travel to the UAE. The country's prime minister noted that "the political dialogue between the countries had "strengthened in recent years", noting "high-level meetings" as an indication.
Baku and Tbilisi are preparing to sign 19 documents aimed at the expansion of bilateral cooperation, according to the head of the Ministry of Foreign Affairs of Azerbaijan Jeyhun Bayramov.
“Since 2019, the two foreign ministries have held 21 official meetings. At the moment, Baku and Tbilisi are preparing to sign 19 documents," Bayramov said
34 GEORGIA Country Report October 2022 www.intellinews.com