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Turkish Trade Minister Omer Bolat is set to visit Georgia on Tuesday for high-level meetings aimed at enhancing bilateral trade toward $5 billion goal, according to official sources.
The visit will include the signing of a decision to revise the rules of origin under the Türkiye-Georgia Free Trade Agreement (FTA), aligning them with the Pan-Euro-Mediterranean (PEM) Convention to facilitate regional trade integration.
The Pan-Euro-Mediterranean (PEM) Convention is a trade framework covering Türkiye, the EU, EFTA countries, and several Mediterranean nations, which enables preferential trade through diagonal cumulation of origin, allowing materials from member countries to qualify for duty-free treatment across the region.
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Bolat’s visit comes as the two countries work toward a shared goal of boosting their annual trade volume to $5 billion. In 2024, total trade reached $3.4 billion, up from $1.5 billion in 2008 when the FTA took effect. Türkiye remains Georgia’s largest trading partner.
The minister is expected to meet with Georgian President Mikheil Kavelashvili, Prime Minister Irakli Kobakhidze, Minister of Economy Mariam Kvrivishvili, and Finance Minister Lasha Khutsishvili to discuss logistics, customs, and investment cooperation.
The Türkiye-Georgia Business Forum will also take place during the visit, bringing together business leaders to review current projects and explore new partnerships. The revised rules of origin, set to take effect in 2026, will allow smoother trade under the PEM Convention by enabling diagonal cumulation across member economies.
The FTA, active since 2008, removed tariffs and quotas on industrial goods. Talks are underway to expand the agreement to cover agricultural trade and services. Türkiye’s exports to Georgia reached $2.75 billion in 2023, while imports stood at $616 million.
Turkish investments in Georgia total $238 million, with over 2,200 Turkish-affiliated firms operating in the country. Including third-country flows, Turkish investment is estimated at $1.5 billion.
Turkish contractors have also delivered $5.6 billion worth of projects in Georgia.
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