The EU Integration Committee held the first sitting of the Working Group on the accession of Georgia to the Single EURO Payment Area.

The Group aims to determine the steps to be taken for accession to SEPA and its outcomes for the country.

“SEPA is a union of the European countries for EURO transfers. Within SEPA, the customers are allowed to ensure rapid, safe and effective transfers as it is ensured during the domestic transfers. Integration of the bank transfer system facilitates the elimination of differences between the countries and harmonization of the transboundary transfer standards. Providing our aspiration to the EU, accession to SEPA will be a significant step forward to the European economic area”, - the Chair of the Committee, Maka Bochorishvili stated.

The Committee heard the presentations by the expert of the II support project of EUAA, Levan Dolidze and the Head of the Tax System Department, Natalia Chkoidze.

The Group intends to meet also with the bank sphere. The Group is composed of MPs, executive officials, EU project expert, and civil society. The Group develops the action plan and the recommendations. In spring 2020, the European Commission has developed the joint communique: “EaP Policy after 2020”, envisaging various directions of enhancement of the EU cooperation with the EaP countries, including the opportunity of application of SEPA on the partner states.

Deriving from the relevancy of the issue, the EU Integration committee made the decision at the sitting of March 26, 2021, to set up the Working Group on Accession to SEPA.