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Georgia is pursuing a liberal trade policy marked by:

  • Low import duty

Import taxes are imposed only on selected products such as construction materials and agricultural products. Today Georgia's tariff rates are the second lowest worldwide (0%, 5%, 12%).

  • No Quantitative Restrictions

Georgia has no quantitative restrictions (quotas, or tariff rate quotas) on trade

  • Equal Excise Tax and VAT on Imported and Local Goods

Excise tax and VAT apply equally on both import and local products. The VAT rate shall make 18% of a taxable turnover or a taxable import.

  • Drastic Reduction of Export/Import Licenses

Only firearms and explosives, radioactive substances, medical products under special control, industrial waste, and a few types of agricultural chemical products are subject to import/export licensing. In 2005, the number of permits for import and export was reduced from 14 to 8.

  • Georgia is a Full-Fledged Member of the World Trade Organization (WTO)

Since 2000 Georgia is a full-fledged member of the WTO. Trade relations with the WTO member countries (153) are based on Most Favored Nation (MFN) treatment. Georgia has joined major plurilateral agreements within the WTO, like Information Technology Agreement, Agreement on Civil Aircraft, also number of sectoral initiatives.

  • Generalized System of Preferences (GSP)

In addition to enjoying MFN tariffs with other WTO members, Georgia also benefits from a Generalized System of Preferences (GSP) when trading with the USA, Canada, Switzerland, Norway and Japan. Accordingly, lower tariffs are applied on goods exported from Georgia to those countries.

  • Georgia enjoys GSP Plus with the EU

In July 2005, Georgia became one of the 15 beneficiaries in the world of the new EU GSP Plus scheme. This is an important factor in terms of facilitating export from Georgia. After being granted the GSP Plus beneficiary status, Georgia can import 7200 products to the EU market duty free.

  • Free Trade Agreements

Georgia enjoys free trade Agreements with Turkey, Azerbaijan, Armenia, Ukraine, Russia, Moldova, Turkmenistan, Uzbekistan, Kazakhstan, Belarus, Tajikistan and Kyrgyzstan.

 

 
 

 

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