Georgia And Hong Kong

Georgian businessmen and women will soon have access to an $8 million purchasing market due the free trade agreement drawn up between Georgia and Hong Kong, which will go to parliament for ratification.

"The most important priority of our economic policy is the best integration of Georgia with the global economy. I want to remind you that we are the only country in the region that has, in parallel, a free trade regime both with the European Union and with China and its neighboring countries. However, our task is to add to this important success new economic platforms," said PM Mamuka Bakhtadze.

The agreement drawn up with Hong Kong provides for the definition of conditions for the free movement of goods and the promotion of trade in services between Hong Kong and Georgia. The agreement covers such topics as customs and trade assistance, intellectual property rights, technical barriers to trade, sanitary and phytosanitary measures, etc.

"Hong Kong is the most important economic center of Southeast Asia and, accordingly, this is a unique opportunity for our entrepreneurs who will have access to an almost 8 million market with high purchasing power," Bakhtadze said. Geneva

The foreign trade turnover of Georgia with Hong Kong for 2017 amounted to $108.9 million, of which exports of Georgian products to Hong Kong amounted to $6.4 million. In only eight months of the current year, the trade turnover with Hong Kong exceeded $79.9 million, of which the export of Georgian products amounted to more than $3.9 million.

Earlier, Georgia concluded free trade agreements with the European Union, the countries of the European Free Trade Association EFTA, Turkey and China.

By Shawn Wayne