Tax Aspects Of Free Trade With The EU

The step towards the liberalization of trade in the international labor distribution should be considered as the most important event for Georgia's economic development. One of the most important part of the Association Agreement between Georgia and the EU is the Deep and Comprehensive Free Trade Area Agreement, which covers liberalization of trade for goods and service. The economic goal of the agreement between Georgia and the EU is to support the modernization process of Georgia's economy, to support and expand trade with the EU and World's largest trading partners Based on the EU's best practices through reforms, which will stimulate to reach highest levels for Georgia-EU economic integration. The core of Association Agreement's economic part includes both tariff and non-tariff barriers in trade, in addition it covers obligations taken by the both sides. The agreement will benefit Georgia in terms of increasing prosperity of its citizens, who will have access to higher quality products in the domestic market, and with a more distant prospect their income will be increased due to new business opportunities and economic growth promoted by the European integration.