Ukraine will expand export destinations for their products.
Georgia became the first country with which Ukraine implementeret Convention on pan-Euro-Med (the Regional Convention on pan-Euro-Mediterranean preferential rules of origin (pan-Euro-Med) in the current free trade zone, reports Rus.Media.
This was reported by the Trade representative of Ukraine Tatiana Gaina on his page in Facebook. In her message, she wrote that starts amending the agreement between the governments of Ukraine and Republic of Georgia on free trade. In her opinion, this will allow us to expand and diversify Ukrainian exports.
The application of the Convention of pan-Euro-Med between Ukraine and Georgia will allow to purchase raw materials in Georgia to produce their products in Ukraine and to sell the finished products in other countries-participants of the Convention, using the effect of diagonal accumulation with the establishment of the preferential status of the goods. Also Ukrainian raw materials and components can be used for the production of goods in Georgia and delivering them to the markets of the countries participating in the agreement.
Recall that on 1 February this year, Ukraine gained full membership in the Regional Convention on pan-Euro-Mediterranean preferential rules of origin (pan-Euro-Med).