Georgia creates Advisory Council on the implementation of the agreement with the EU

Advisory Council on the implementation of the agreement on a deep and comprehensive free trade area with the European Union (EU) will be created by the government of Georgia in September. According to Trend, Georgian Deputy Minister of Economy of Georgia Mikheil Dzhanelidze told about this on Aug. 28.

The agreement between Georgia and the EU on a deep and comprehensive free trade area enters into force on September 1, 2014, he said.

According to the source, the deputy minister 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.

Georgian side believes that in the future ratings of Georgia will rise even more, and other international agencies will also reconsider the ratings of the country, Dzhanelidze added.

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.