Georgia has low tariffs, streamlined border clearance procedures and preferential trade regimes with various countries making it an attractive production platform to serve diverse markets:
- Georgia has been a member of the World Trade Organization (WTO) since 14 June 2000
- Low import tariffs (90% of goods free from import tariff)
- Georgia has no quantitative restrictions (quotas) on trade
- No customs tariff on export and re-export
- Excise tax and VAT apply equally on both import and local products
- No VAT on export
- Simplified export and import procedures
- MFN Tariffs with WTO Members (Most Favored Nation (MFN) trade status provides lower tariffs for WTO members -153 countries)
- Preferential Tariffs (GSP) with the USA, Canada, Switzerland, Japan and Norway (zero (3300 products ) or lower tariffs (6900 products) are applied on goods exported from Georgia to those countries)
- GSP Plus with the EU (GSP+ status allows Georgia to export 7200 products to the EU market duty free)
- Free Trade Regime with Turkey, Azerbaijan, Armenia, Ukraine, Russia, Moldova, Turkmenistan, Uzbekistan, Kazakhstan, Belarus, Tajikistan and Kyrgyzstan.
- Georgia is actively working with USA to encourage negotiations on free trade agreements.
- GSP provides enhanced access into the U.S. market for 3,400 types of products from 132 countries
- GSP gives eligible products an advantage in U.S. market – they enter duty-free
- Georgia became a GSP beneficiary in 2001
Is my product eligible for duty-free treatment under GSP?
The easiest way is to go to: http://dataweb.usitc.gov/scripts/tariff_current.asp
- Economic integration with the European Union
- Opened EU internal market for Georgia
- Liberalization of trade both in goods and services
- Gradual integration of Georgia’s trade-related legislation with the EU’s legislation
- Obtaining three of four freedoms of EU internal market: free movement of 1) goods, 2) service, 3) capital
BILATERAL INVESTMENT TREATY (BIT)