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Prospects for the development of Georgia's trade with the European Union

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Shota Veshapidze

Doctor of Economic Sciences, Associate Professor, Ivane Javakhishvili Tbilisi State University

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Giorgi Megreladze

PhD student Ivane Javakhishvili Tbilisi State University

Abstract

The article focuses on the impact of Georgia obtaining EU candidate status on its international trade. The interest in this topic stems from the fact that Georgia's acquisition of candidate status marks a significant step towards integration with the European Union. Many people directly associate Georgia's development with integration into the European family and expect that along with this integration, welfare in Georgia will significantly improve. Therefore, we consider it important to investigate the potential impact of obtaining EU candidate status on Georgia's foreign trade.

The aim of the research is to determine the effects of obtaining candidate status, how it will impact Georgia, and how the situation of Georgia's foreign trade will change. The research subject is the assessment and analysis of the effects arising from the acquisition of candidate status, the analysis of positive and negative events that Georgia may face, and the opportunities and challenges that Georgia will encounter. The object of the research is the relationship between the European Union and Georgia and the regional influence that current events may have.

Among the methods used in the study, it should be noted the general scientific methods of analysis and synthesis, induction and deduction, as well as the method of systematic research.The research has practical significance in terms of creating favorable conditions for the long-term development of economic cooperation between Georgia and the European Union.

Keywords: European Union, Georgia, candidate status, strategic partnership, foreign trade.

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The New Economist N 2-3 (2024), Vol. 19, Issue 2

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Published Date:

12/09/2024

Copyright (c) 2024 Shota Veshapidze, Giorgi Megreladze

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