Georgia Signs Free Trade Memorandum with China
A three round, seven month negotiation process between the Government of Georgia and the People’s Republic of China ended with a free trade memorandum signed between the parties this week.
Gao Hucheng,Minister of Commerce of China, noted the importance of the memorandum signing day in the history of Georgian and Chinese trade relations, marking the existing high level of cooperation between the two countries.
“The effective work and efforts that both the governments have undertaken resulted in a memorandum that signifies a succesful end to the negotiation process for free trade between Georgia and China,” said Dimitry Kumsishvili, the First Vice President of Georgia. “I would like to thank the government of the People’s Republic of China for their continuous support.”
Georgia is the first country in the region to enter the world’s largest trade market.
The negotiantions on free trade between the two countries started in December 2015, as a consequence of which Georgia now has the chance to send not only Georgian goods to China, but also to open tourism agencies in the country and organize tours to Georgia.
94 percent of exported Georgian products will be tax free in China; the country according to Kumsishvili, being in the 4th place in turnover among Georgia’s largest partner countries.
By Nino Gugunishvili
Edited by K. R. Davies