Georgia’s produce to be exempt from customs duties under the free trade deal with China
Georgia and China have concluded a Free Trade Agreement, which implies that Georgian products will have access to China and its market of 1.4 billion consumers.
According to the Georgian Government’s administration, 94% of Georgian goods will be exempt from China’s customs duties. Georgia is the first country in the region to strike a free trade deal with China.
“China is among Georgia’s top five trade partners. There has been a steady growth in Georgian wine exports (wine exports in January-April 2017 increased by 270% compared to the same period of 2016). Market diversification is one of the priority trends for the Georgian Government,” reads the Georgian Government’s official statement.
The Georgian government has already entered into similar free trade deals with the EU, Turkey, CIS countries and the European Free Trade Association (EFTA).
The Georgian government expects that the Free Trade Agreement with China will boost the country’s economic potential. In proof of the aforesaid, the government points to examples of other countries’ commercial relations with China, where the volume of goods exported by those countries to China have increased considerably: Chile’s exports – by 132%; New Zealand’s exports – by 30%, exports from Peru – by 13% etc.
Direct flights between Georgia and China have been operating twice a week since 23 September 2016. The first train on the Trans-Asian Caucasus railway route has also been launched as part of the Great Silk Road project. It is expected to ensure the shortest connection between Asia and Europe in future.
Georgia received 4,541 visitors from China between January and April 2017, which is 32% more than the same period the previous year.
