Economy
Posted: 2 weeks ago

Products Made of Turkish Raw Materials in Georgia to Enter EU Market without Exports Tax

All products made of Turkish raw materials in Georgia will enter the EU market without exports tax. The due document was ratified by the Parliament of Turkey on February 10.

Thus, Georgia-EU free trade agreement will cover not only those products that are made of Georgian or European raw materials but also products that are made of Turkish raw materials. According to the Turkish Embassy in Georgia, this agreement will broaden the assortments of products that will be exported to the EU market.

Both Georgian and Turkish businesses will get benefits. This agreement will attract investment from Turkey, foster an establishment of joint companies and create new job places. On February 10, 2021, the Parliament of Turkey ratified the N1/2016 decision of the joint committee established as part of the Georgia-Turkey free trade agreement on amending the Protocol II on Determining Concept of Origin of Products and Methods of Administrative Cooperation.

This document will enable Georgian and Turkish business companies to boost joint exports to the EU market. This document also enables products made of Turkish raw materials in Georgia to enjoy exports tax-free regime on EU market”, the Turkish Embassy statement reads.