Representative of the European Commission, Alexander Vinterstein, announced that the EU had allocated EUR 45 million in financial assistance to Georgia.
At the Brussels summit, Winterstein added: “The European Union’s financial assistance is based on a memorandum of understanding with Georgia aimed at securing financial needs and economic reforms in the country,” Interinfo News reported on Sunday.
He added that the allocation of EU financial assistance to Georgia has also been reflected in the comprehensive cooperation agreement between Georgia and Georgia.
In July 2016, Georgia and the European Union signed the Comprehensive Agreement on the Development of Political and Economic Relations.
The two sides also have a free trade agreement, and the EU, as Georgia’s largest trade partner, allocates 120 million euros annually to the country.
Georgia has received a total of € 711 million from the European Union since 2009.
Georgia as one of the South Caucasus countries with a total area of 69.7 thousand square kilometers and a population of 3.718 million, which, after gaining major national independence, has declared its goal to join the European Union and NATO, in the last five years to abolish visa regime With this union tried.
On March 28, 2017, the EU announced its decision to abolish the visa regime for Georgian citizens, thus allowing citizens to travel to the European Union without a 90-day visa.
Currently, more than 31% of Georgia’s total foreign trade is with EU countries.
