Georgia strengthens economic ties with China
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The Prime Minister of Georgia and a delegation of Georgian officials are on their way to China for a five-day working visit.
During the September 9-13 trip, Prime Minister Irakli Garibashvili and the Georgian delegation will meet Chinese leaders and representatives of large Chinese companies, and will sign important agreements that strengthen economic ties between the two nations.
The official agenda stated Garibashvili will participate in the World Economic Forum in China’s major port city Dalian. The Georgian PM will speak at the session The Modern Silk Road before delivering a speech at the University of International Business and Economics in Beijing.
In the Chinese capital Garibashvili will meet Premier of China Li Keqiang. Also, meetings are scheduled with heads of the China Silk Road Fund, president of the Asian Infrastructure Investment Bank, secretary general of the Chinese Trade Chamber, Prime Minister of Mongolia, representatives of Mitsubishi Corporation, Dongfang Electric Corporation, Sab Labs China and Transcosmos.
The Georgian and Chinese sides are also expected to sign several agreements. This includes:
- A Memorandum of Cooperation between Dalian Municipality and Georgia’s Adjara region;
- A Memorandum of Cooperation between CNR Dalian Locomotive and Rolling Stock Company and Georgia’s Carriage Building Company;
- A Memorandum of Cooperation between Dalian Free Trade Zone and the Georgian Wine Corporation; and
- A Memorandum of Cooperation between China Railway Construction Corporation and Georgian Railways.
At the end of the visit the Georgian Prime Minister will give interviews to leading Chinese media outlets.
The Georgian delegation to China included Vice Prime Minister and Foreign Minister Giorgi Kvirikashvili, Parliamentary majority leader Davit Saganelidze, Economy Minister Dimitri Kumsishvili, chairman of the Adjara Autonomous Region Archil Khabadze, Parliament Member Gubaz Sanikidze, Georgian National Investment Agency director Giorgi Pertaia, CEO of the Georgian Co-Investment Fund George Bachiashvili and director general of Georgian Railways Ltd Mamuka Baktadze.
"China is ready for a visa free travel regime with Georgia. We wish this and if Georgia is also interested in this issue we might start negotiations,” Chinese Ambassador to Georgia Yue Bin told local Rezonansi newspaper.
Georgia has hosted the sixth round of negotiations of the China-led Asian Infrastructure Investment Bank (AIIB), which elected the Bank’s first president.
The collapse of the Chinese stock market is having a slight impact on the stability of Georgia’s national currency, the Lari, which is now at a record low against the United States.
Developing Georgia’s trade and economic relations with China were key topics discussed when officials from both countries met each other in China today.
Georgia’s First Deputy Foreign Minister Davit Dondua and the Deputy Foreign Minister of the Public Republic of China Cheng Guoping spoke face-to-face about Georgia’s role in the Silk Road-Economic Belt project and the upcoming Silk Road Forum.
A leading Chinese company could implement a new $1 billion USD highway construction project in Georgia.
Garibashvili emphasised that American and Chinese companies were interested in constructing a deep-water port in Georgia that would meet 100 million ton trade turnover annually. The new port would help increase Georgia’s role as a transit nation.
State-owned enterprise Dongfang Electric has pledged to contribute about $180-$200 million for construction of a 150 megawatt Thermal Power Plant (TPP) in Georgia’s western Tkibuli region.
Georgia will soon begin exporting wine to one of China’s major port cities, Dalian. Georgian Wine Company (GWC) signed a Memorandum with Dalian Free Trade Zone today to solidify the deal.
Georgia will be the first country in the region to launch negotiations with China about free trade, said Georgia’s Prime Minister Irakli Garibashvili after meeting his Chinese counterpart Li Keqiang in China today.
Georgia will be one of the first countries in which the newly established Asian Infrastructure Investment Bank (AIIB) will invest.The Bank’s investment in Georgia will provide numerous benefits for the local economy, mainly in the fields of transport and energy.
Huawei, a leading Chinese multinational networking and telecommunications equipment and services company is interested in developing its business in Georgia.
Company plans to build gas storage and Thermal Power Plant
One of China’s leading engineering firms is expressing its interest to invest in Georgia’s gas and energy sectors.
A Georgian Culture House will open in the Chinese city of Yiwu in the near future as a symbol of the close cooperation between the two countries. It will be the first large-scaled Georgian-Chinese project.
Georgia and China are deepening cooperation in the fields of agriculture, tourism, science, modern technologies and construction.
Today in capital Beijing Usupashvili met his Chinese counterpart and participated in a conference dedicated to the New Silk Road prospects.
The Georgian National Investments Agency has participated at the 29th annual conference of the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) in Hong Kong.
Georgia is tightening business ties with the Netherlands, trying to attract more Dutch investors in the country.
Georgia and China are looking to deepen trade and economic cooperation at next week's Georgia-China free trade negotiations.
Georgia has begun free trade talks with China. The deal will be extremely beneficial for Georgia as it will facilitate increased business and trade turnover between both nations.
Georgia is looking for ways to deepen cooperation with its partners in China and encourage more Chinese investors into the country.
China is offering about $9 million to improve the health of the Georgian population.