About Civil.ge
Eng | Geo | Rus
Last updated: 10:55 - 1 May.'18
RSS
Mobile
Twitter
Facebook
Georgia, China Conclude Free Trade Talks
Civil Georgia, Tbilisi / 6 Oct.'16 / 10:37

Georgia and China signed on October 5 a memorandum of understanding on concluding the free trade negotiations.
 
The memorandum was signed in Tbilisi by China’s Commerce Minister Gao Hucheng and Georgian Economy Minister Dimitri Kumsishvili.

Tbilisi hopes that the treaty itself will be signed by the end of this year and it will go into force by mid-2017 after internal procedures, including its ratification by the both countries, are finalized.

According to the Chinese Ministry of Commerce, the free trade agreement, consisting of 17 chapters, will allow the two countries to trade with “the vast majority of goods with zero tariffs”.

After the free trade agreement goes into force, Chinese consumers will have greater access to high quality products like wine and fruits from Georgia, while Georgians will benefit from cheaper China-made industrial products, Xinhua news agency reported quoting Chinese Minister of Commerce Gao Hucheng, who also met Georgian PM Giorgi Kvirikashvili in Tbilisi.

Georgian officials note that agriculture products and wine are among those Georgian commodities, which would enjoy “zero tariff rates” applied immediately after the agreement enters into force without any transition period.

Georgia exported over 3.36 million 0.75-liter bottles of wine to China in the first eight months of 2016, which is 2.4-fold increase compared to the same period of 2015 when 1.18 bottles were exported to China, according to the National Wine Agency of Georgia.

China was the second largest export market for the Georgian wines in the first eight months after Russia where 14.6 million bottles were exported in the same period.

Georgia and China held first round of free trade talks in February, 2016.

“The governments of the both countries carried out efficient work and as a result negotiations were concluded in seven months,” Georgia’s Economy Minister, Dimitri Kumsishvili, said.

“I want to thank China for its constructiveness in the process of negotiations,” he added.

Latest News
01 May.'18 10:55
We Have Moved to a New Platform
Direct Your Bookmarks to https://civil.ge.
29 Apr.'18 03:54
Ruling Party Candidate Wins MP By-Elections
Givi Chichinadze will represent Vani and Khoni single-mandate constituency in the Parliament of Georgia.
28 Apr.'18 09:40
Polls Open for Vani and Khoni MP By-Elections
48,123 voters are eligible to cast their ballots in Vani and Khoni single-mandate constituency.
27 Apr.'18 17:23
State Dept’s Europe Affairs Point Man to Visit Tbilisi
Wess Mitchell will meet senior government officials and address the NATO-Georgia Public Diplomacy Forum.
27 Apr.'18 13:45
In Quotes: Georgian Politicians on Ex-PM Bidzina Ivanishvili’s Comeback
Bidzina Ivanishvili will be approved as the Georgian Dream party chairman at the upcoming convention.
26 Apr.'18 18:15
SG Jens Stoltenberg: Georgia NATO’s ‘Very Close’ Partner
The NATO Secretary General says Foreign Ministers meeting tomorrow will recognize the country’s progress.
26 Apr.'18 14:24
Ex-PM Ivanishvili to Chair Georgian Dream Party
Prime Minister Giorgi Kvirikashvili said Ivanishvili was ‘best equipped’ to add new dynamism to the party.
26 Apr.'18 11:12
Lawmaker Proposes Criminal Liability for ‘Insult of Religious Feelings’
The parliamentary human rights committee decided to set up a working group for scrutinizing the draft law.
25 Apr.'18 17:21
New Abkhaz Government Head Appointed
Gennady Gagulia has served as the Abkhaz “prime minister” twice - in 1995-1997, and 2002-2003.
25 Apr.'18 14:43
Watchdog Improves Georgia’s Press Freedom Ranking
None of the countries of the former Soviet Union (except the Baltics) are ranked ahead of Georgia.

About Civil Georgia
Civil.Ge © 2001-2025, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
41