Georgia-Hong Kong Free Trade Agreement Becomes Effective

According to the Ministry of Economy and Sustainable Development, the agreement that was signed in June 2018 has now became effective. The agreement determines the conditions of free trade of goods between Hong Kong and Georgia. It also specifies intellectual property rights, sanitary measures, the promotion of customs and other topics.

Georgia is the first country to sign such an agreement with Hong Kong in the region. It is expected to have a positive impact on the Georgian economy since it will promote trade and investments flows between the two parties.

Georgian entrepreneurs will have the chance to include their services and products in the Hong Kong market, which represents 7 million consumers.

"Hong Kong conducts an open economic policy and represents one of the largest key transnational financial centers of the world,” the Ministry stated.

By Gabrielle Colchen

Image Source: Caucasus Business Week

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