Since 2012 the United States and Georgia periodically have discussed the possibility of a free-trade agreement.
When asked about the possibility of Free Trade Agreement ( FTA) with Georgia, a State Department spokesperson told the Accent that 'at present, the Biden-Harris Administration remains focused on strengthening our domestic economy.'
"The United States seeks to identify opportunities for U.S. businesses to invest in Georgia, and for both countries to sell goods and services to each other. The United States and Georgia have signed a bilateral investment treaty and a bilateral trade and investment framework agreement. Georgia can export many products duty-free to the United States under the Generalized System of Preferences program. At present, the Biden-Harris Administration remains focused on strengthening our domestic economy through investments in American workers and competitiveness before entering into any new trade deals. The State Department works closely with the U.S. Trade Representative (USTR) on decisions about specific mechanisms to best advance our trade relationship with Georgia. USTR has the lead on FTA negotiations." the State Department spokesperson told the Accent.
The U.S. Generalized System of Preferences (GSP) program promotes economic growth in the developing world by providing duty-free entry to the U.S. market for goods imported from designated beneficiary developing countries. It should be noted that the GSP is not permanent and is subject to periodic revision. Compared to it, FTA's advantage is that it includes almost all goods. In addition, FTA is permanent, which guarantees stability for investors.