The Comprehensive Economic Partnership Agreement with the United Arab Emirates had officially taken effect, adding the deal on free trade would “strengthen economic ties” between the two nations.

“The attractiveness of Georgia is strengthened by the fact that the country has a free trade agreement with two large economies - the European Union and China. This strategic advantage of Georgia allows Arab companies to take advantage of investment opportunities and gain access to these markets”, - said Deputy Economy Minister Genadi Arveladze.

The agreement aimed to liberalise the trade of products and services produced in Georgia, noting it was the first agreement of its kind for the country with an Arab state in the Gulf region.

The UAE currently stands as Georgia’s leading trade partner among Arab nations, with trade turnover having increased by 39% in 2023 compared to the previous year, including a 73% surge in exports. The Agreement was poised to foster increased investment in various sectors, noting data from 2023 indicated a 29 percent increase in investments in Georgia from the UAE.