The agreement between the European Free Trade Association (EFTA) and Georgia covers the entire range of goods, said the Federal Customs Administration (EZV) in a circular published as the agreement enters into force on 1 May 2018. Effective as of this date, the four EFTA countries of Liechtenstein, Switzerland, Norway and Iceland simultaneously revoked the status of Georgia as a developing country entitled to preferential treatment.
The free trade agreement was signed in Bern on 27 June 2016. This means that most duties in trade between the EFTA countries and Georgia are fully or at least partially phased out. Other than a few exceptions, industrial products can now be exported without tariff. This move will also simplify the customs procedures in trade between the free trade partners. Furthermore, the reciprocal market access for financial and other services will be easier in the wake of this agreement.