Georgia’s Economy Minister joins high-level conference in China
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Georgia’s Economy Minister Dimitry Kumsishvili has participated in a joint People's Bank of China - International Monetary Fund high-level conference on the Belt and Road Initiative (BRI).
Georgian minister delivered his speech at the session of ‘Macroeconomic and Financial Frameworks for Successful Implementation of the BRI’.
There he said the One Belt, One Road initiative will bring significant benefits to all participating countries, as it promotes regional cooperation, development of infrastructure and transport links between the states.
The ‘One Belt, One Road’ initiative is a vast development strategy starting in China and spanning across Eurasia which includes reviving the Silk Road route for trade.
Kumsishvili said that this initiative requires "significant investments” and legislation harmonisation.
The conference brought together high-level policy makers from China and a number of partner countries to discuss their vision for a successful BRI and the policy frameworks needed to support it.
The conference is taking place in China today.
Georgia is invited as an "important guest” at an upcoming exhibition in Shanghai, China, announced Georgia’s Ministry of Economy Dimitry Kumsishvili today.
Free Trade Agreement between Georgia and China has come into play on January 1, 2018, making Georgia the first country in the region to have such a deal with China.
Chinese corporation ZPMC will be involved in the construction of Georgia’s largest port Anaklia Deep Sea Port, on the shores of the Black Sea city of Anaklia, near Georgia’s breakaway Abkhazia region.
Georgia and China signed a Memorandum of Understanding on developing economic zones and entrepreneurial capacity between the countries.
China will help Georgia develop a Trans-Caspian international transport corridor, the so called ‘middle corridor’ within the "One Belt, One Road” initiative, announces Georgia’s Ministry of Economy.
Georgia and China are strengthening ties in the field of cinema industry, signing a memorandum to start joint production and support distribution of Georgian movies in China.