Chapter 5 closely follows the approach of the WTO`s General Agreement on Trade in Services (GATS). It covers trade in all service sectors under the four types of supply. Separate annexes to financial services (Annex X), telecommunications services (Annex XI), maritime services (Annex XII) and energy-related services (Annex XIII) complete the chapter with additional disciplines specific to these sectors. Lists of contracting parties with specific obligations and derogations from the treatment of the Most Favoured Nation (MPF) are listed in Appendix VIII and IX respectively. These lists are subject to regular revision to further liberalize the exchange of services between the two parties. The Association Agreement (“AA”) with the EU was signed and ratified in 2014, including the Comprehensive and Comprehensive Free Trade Agreement (“ACFTA”). In addition, on 27 June 2016, Georgia signed a free trade agreement with EFTA countries, which allows Georgian products duty-free access to the markets of Iceland, Liechtenstein, Norway and Switzerland. Georgian entrepreneurs will be able to set up a business or branch of a company in a relevant European country and attract qualified staff to the European Union for a limited time; Service providers – as part of the agreement – can provide their services throughout the European Union. The implementation of the CCFTA will also bring great benefits to the regulatory environment. with regard to the production and trade of industrial products, new regulatory standards will improve the safety and quality of products available on the market. And in fact, one of the largest supply markets in the world.
This will provide Georgian companies with business opportunities and lower costs for the Georgian Treasury, as procurement rules will become more transparent, lighter and more efficient. At the beginning of the reforms, Georgia will have access to different types of supply offers in the European Union, which could lead to a full opening of the EU market. Georgia has also concluded bilateral free trade agreements with Russia, Uzbekistan, Moldova, Kazakhstan, Ukraine, Turkmenistan, Azerbaijan and Armenia, Deputy Economy Minister Genadi Arveladze said at the meeting with media representatives on DCFTA affairs. The provisions on the protection of intellectual property rights (Chapter 7 and Appendix XV) cover, among other things, trademarks, copyrights, patents and geographical indications and include provisions relating to respect for intellectual property rights and cooperation between the parties. They are based on the WTO agreement on trade-related aspects of intellectual property rights (TRIPS) and provide a high level of protection, taking into account the principles of the most favoured nation and national treatment. The free trade agreement with Turkey came into force in November 2008, with China in January 2018. Georgia has a free trade system with the European Union (EU), the European Free Trade Association (EFTA), the Commonwealth of Independent States (CIS), Turkey, China and Hong Kong.