Georgia forms advisory body for EU free trade zone
By Victoria Moiseyeva
The Georgian government will establish an Advisory Council on the implementation of the agreement on a deep and comprehensive free trade area with the European Union in September, Deputy Economy Minister Mikheil Janelidze said on August 28.
The agreement between Georgia and the EU on a deep and comprehensive free trade area enters into force on September 1.
Georgia formally signed an association agreement and deep and comprehensive free trade agreement with the EU on June 27. The Georgian Parliament ratified the association agreement on July 18.
Janelidze noted that the positive forecasts of Moody's international rating agency for the economic development of Georgia are connected with the conclusion of the agreement on deep and comprehensive free trade area between Georgia and the EU and improvement of economy management possibilities of the country.
The Georgian side believes that the ratings of Georgia will rise even more in the future, and other international agencies will also reconsider the ratings of the country.
Moody's Investors Service international rating agency reconsidered its earlier forecast of Georgia's sovereign rating from "stable" to "positive". Rating is affirmed at "Ba3" level.