The EU is the world’s largest market and a Deep and Comprehensive Free Trade Agreement with Georgia, the Republic of Moldova and Ukraine offers new opportunities for companies in these countries. Fashion house ‘Materia’, based in Tbilisi, is one of them, says an article published by the European Bank for Reconstruction and Development (EBRD).
Offering its customers a premium clothing line and more affordable products, the fashion house also sells its clothing to various public institutions in Georgia including the army, police, post office staff and many more.
It works closely with the Georgian Rugby Federation to produce uniforms for the national team’s junior players and a wide range of rugby clubs, including Goris Jiki, which won this year’s domestic club championship.
The business has secured financing to modernise its equipment and introduce the best workplace health and safety practices for a new clothing factory, in line with EU standards. This will help the fashion house to take full advantage of export opportunities. The firm was one of the first to benefit from the EU4Business-EBRD Credit Line.
The EU4Business-EBRD Credit Line – a joint initiative between the EBRD and the European Union – targets small and medium-sized enterprises in Georgia, the Republic of Moldova and Ukraine. All three countries are signatories to an Association Agreement and benefit from signing up to the Deep and Comprehensive Free Trade Area with the EU.
The Credit Line helps interested businesses to make the most of open access to the EU, the world’s largest trading block, by modernising their production and services in line with EU standards.