European Parliament Adopted Report on Georgia’s Association Agreement (AA) Implementation

On September 16, the European Parliament adopted the report on the implementation of the EU Association Agreement with Georgia. 

The document refers to Georgia as a credible and reliable partner and positively assesses Georgia’s progress in the adoption of key reforms and improvement of the legislation. In the report, European Parliament assumes transparency as a key basis for development and improvement of the investment climate and underlines the importance of structural reforms in this area.

It is notable, the ongoing accounting and auditing reform in Georgia is assessed in the previously released Working Document (dated back to February). According to the document, since the entities are required to comply with the requirements of the law on “Accounting, Reporting and Auditing”, the Georgia’s accounting, reporting and auditing practice is becoming more and more equal to the EU and international practices. 

European Parliament positively assesses the fact that the EU accounts for 27% of Georgia’s total trade and calls on the European Commission for deeper integration with Georgia.