About Civil.ge
Eng | Geo | Rus
Last updated: 10:55 - 1 May.'18
RSS
Mobile
Twitter
Facebook
Georgia, China Seal Free Trade Agreement
Civil Georgia, Tbilisi / 14 May.'17 / 18:14

On May 13, Georgia’s Economy Minister Giorgi Gakharia and China’s Commerce Minister Zhong Shan signed the free trade agreement to expand bilateral trade in goods and services.

“Georgia has a steadily growing export to China. We see a great potential in concluding free trade agreements with big economies such as China, as we believe that Georgia should become the most convenient, comfortable and attractive platform for trade between big economies,” Gakharia noted.

“Today is a very important and special day for Georgia in terms of developing international investments, trade and people-to-people relations. This is an agreement that elevates Georgian-Chinese relations to a whole new level,” Finance Minister Dimitri Kumsishvili, who accompanied Gakharia, stated.

Once the agreement takes effect (tentatively at the end of 2017 or early 2018), Georgia will apply no tariffs on 96.5 percent of products from China immediately, while 90.9 percent of Chinese imports from Georgia will be exempted from tariffs immediately and another three percent will be exempted from tariffs within five years, Xinhua news agency reported.

The two countries launched the free trade agreement negotiations in December 2015 and successfully completed it in October 2016, sealing Beijing’s first-ever free trade agreement in the Eurasian region.

China was the fourth largest trading partner for Georgia in 2016. According to the National Statistics Office of Georgia, Georgia’s trade turnover with China stood at USD 717 million in 2016 with exports increasing by 30% y/y to USD 170 million and imports down by 7% y/y to USD 547 million in 2016.

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 © 2001-2018, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
54