About Civil.ge
Eng | Geo | Rus
Last updated: 18:04 - 17 Nov.'17
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
17 Nov.'17 18:04
Ombudsman Presents Report on Abkhazia Crossing Points Closure
Public Defender Ucha Nanuashvili believes human rights situation in Gali is “gradually deteriorating.”
17 Nov.'17 16:14
Georgian, Russian Diplomats Meet in Prague
Moscow says an expert meeting on 2011 WTO deal agreed, criticizes Georgia on NATO ties.
17 Nov.'17 15:20
Three Deputy Interior Ministers Appointed
New Interior Minister Giorgi Gakharia will have three deputies.
17 Nov.'17 14:47
Public Defender Calls for Broader Participation in New Ombudsman’s Selection
Georgian civil society organizations plan to nominate their candidates for the position.
16 Nov.'17 17:31
Georgia Joins Lapis Lazuli Corridor Agreement
Afghanistan, Turkmenistan, Azerbaijan and Turkey signed the agreement as well. 
16 Nov.'17 17:24
New U.S.-funded Training Program to Focus on Georgia’s Territorial Defense
Defense Minister Levan Izoria spoke on the new training program during his visit to the United States.
16 Nov.'17 12:32
Environmental NGO Calls for ‘In-Depth Analysis’ of Proposed Government Changes
The Caucasus Environmental NGO Network issued a statement on November 15.  
15 Nov.'17 17:50
In Tbilisi, Polish and Swedish FMs Reiterate Support for Georgia’s European Aspirations
Witold Waszczykowski and Margot Wallström held talks with Georgian leaders ahead of the EaP Summit.
15 Nov.'17 12:31
Putin Meets South Ossetian Leader in Moscow
Moscow extends compulsory medical insurance program to its citizens living in Tskhinvali Region.
14 Nov.'17 18:26
Newly Elected Tbilisi City Council Elects Chairman
The inaugural session was held on November 14. 

About Civil Georgia
Civil.Ge © 2001-2017, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
92