On the 27th of June 2014 in Brussels, Georgia and the European Union signed an Association Agreement, which includes provisions for the establishment of a Deep and Comprehensive Free Trade Area (DCFTA).
The agreement was signed by the Georgian Prime Minister, Mr Irakli Gharibashvili; by the President of the European Council, Mr Herman van Rompuy; by the President of the European Commission, Mr José Manuel Barroso; and by the heads of state or government of the EU member states.
By signing the agreement, Georgia assumes the obligations to consolidate the rule of law, to pursue legislative reforms, to strengthen respect for fundamental human rights and freedoms, and to reinforce democratic institutions.
The Association Agreement will significantly enhance the political dialogue between Georgia and the EU, and will increase the involvement of civil society.
The agreement is designed to gradually introduce European standards in all spheres of Georgia's economy and sectoral policy---infrastructure, energy, the environment, agriculture, tourism, technological development, employment and social policy, health protection, education, culture, civil society, regional development, etc. It also provides for the approximation of Georgian laws with nearly 300 items of European legislation.
These new possibilities for trade will further Georgia's gradual economic integration with the EU's common market through the abrogation of customs tariffs and quotas as well as through the harmonization of trade-related legislation, norms and regulations.
The Association Agreement provides for such a high level of rapprochement with the European Union that Georgia's process of Europeanization has become irreversible, and represents yet another step towards EU membership. Following the signing of the agreement, Georgia's European integration will be a priority both in terms of foreign and domestic policy.
On the 26th of June, Georgia and the EU also adopted an Association Agenda, whose aim is to support the effective implementation of the Association Agreement, and which constitutes a three-year timetable (2014-2016) setting out priorities for the implementation of the Association Agreement.