As a result of the trade agreement signed with China, the world's largest market will be opened for Georgia

16 May '17

On May 16, at the office of Business Association of Georgia, the Deputy Minister of Economy and Sustainable Development of Georgia, Giorgi Cherkezishvili, the Vice-President of the Business Association of Georgia, Samson Pkhakadze and representatives of member organizations of the Association held a joint press conference on free trade agreement signed between Georgia and China.

Agreement signed in Beijing on May 13 was discussed at the press conference. After a Free Trade Agreement with China goes into effect, world's largest market, which unites approximately 1,4 billion customers, will be opened for services and goods produced in Georgia.

According to the Deputy Minister, Giorgi Cherkezishvili, about 80% of Georgian products will be exempt from customs duty when imported to China within the scope of the contract.

"Export products include wine, hazelnut, honey, mineral water, beer, non-alcoholic beverages and other additional products. China will have a partner country in the region, which also has free trade agreements with European Union, Turkey and CIS countries, so this is a political will," - said Giorgi Cherkezishvili.

According to Vice President of the Association, Samson Pkhakadze, signing of free trade agreement with China is a great success for the country and is valuable for local business development.

„Our Association unites more than 70 companies. Some of them are already operating with China and I believe that after enactment of this agreement many will start operating in the Chinese market. I would like to congratulate you all, this is a great success for all companies and for the whole country", - said Samson Pkhakadze.

Georgia is the first country in the region with which China has signed a free trade agreement. Georgia has also signed a Free Trade Agreement with the European Union, Turkey, the CIS countries and the European Free Trade Association.