The UK has signed a post-Brexit trade agreement with Georgia, representing the first continuity agreement between the UK and an Eastern European country.
The deal is formally known as the ‘UK-Georgia Strategic Partnership and Cooperation Agreement’ and replaces the current EU agreement once the UK leave the European Union (EU).
Georgia has become the 47th country that the UK has signed a trade continuity agreement with, having already agreed deals with South Korea, Switzerland, Iceland and Norway among others.
Dominic Raab, Foreign Secretary, said: “The signing of this agreement gives British exporters and consumers the certainty they need to continue trading freely with Georgia, as the UK prepares to leave the EU.
“It underlines the significance of our strong ties with Georgia and will ensure that our political and trade relationship continues to flourish.”
The agreement will replace the current EU-Georgia deal either following an implementation period or in the event of a no-deal Brexit and will be subject to parliamentary procedures in both the UK and Georgia before it comes into effect.
According to official figures from the Office for National Statistics (ONS), trade between the two countries was worth £95 million in 2018, and the UK has now secured agreements with countries that account for more than £100 billion of trade last year.
Liz Truss, International Trade Secretary, said: “The UK Government is committed to developing both our political and trading relationship with Georgia.
“This agreement will ensure minimal disruption for businesses and consumers in both our countries as we prepare to leave the EU and usher in a new phase of cooperation between our two nations.”
