Implementation of Free Trade Agreement between Georgia, China discussed at joint commission meeting
Since the implementation of the Agreement, the exports to China have increased “significantly”, including several new export products such as orthopaedic and surgical equipment, dry fruits, spices, coffee and tea extracts, Arveladze noted. Photo via Economy Ministry
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The implementation of the Free Trade Agreement between Georgia and China over the past five years was discussed on Friday by the Georgian Deputy Economy Minister Genadi Arveladze and Han Yong, the Department Head of WTO Affairs of the Chinese Commerce Ministry, in a joint commission meeting held in the Georgian capital Tbilisi.
The parties emphasised the achievements of bilateral trade and economic cooperation and “positively assessed” the progress made since the conclusion of the Free Trade Agreement in January 2018, with the Georgian side stressing that China had been Georgia's “top trading” partner during the previous three years.
Since the implementation of the Agreement, the exports to China have increased “significantly”, including several new export products such as orthopaedic and surgical equipment, dry fruits, spices, coffee and tea extracts, Arveladze noted.
The meeting also touched on the promotion of the export of wine and other alcoholic beverages from Georgia to China, the Ministry of Economy said.
The Deputy Minister also added that under the 2022 export figures, China, among Georgia’s largest foreign trade partners, was in first place with a 13 percent share of the country's total exports.
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.
Georgian Prime Minister Irakli Garibashvili on Wednesday told a panel discussion at the Qatar Economic Forum in Doha his country had a “very good” relations with China, citing the free trade agreement between the countries as a sign of “increasing” ties.
Turkey ($673.7 million), Russia ($666.9 million) and China ($376 million) were the top trading partners of Georgia in its total external trade turnover between January and March, preliminary data from the National Statistics office of Georgia shows.
Russia ($467.1 million), Turkey ($387 million) and China ($246.4 million) were the top trading partners of Georgia in its total external trade turnover between January and February, preliminary data from the National Statistics office of Georgia shows.
Georgian external trade turnover amounted to $10.26 billion in January-June 2023, posting a 20.1 percent increase year-on-year, the Georgian National Statistics Office revealed on Thursday.
Georgian Prime Minister Irakli Garibashvili will leave for China on Wednesday to attend the opening ceremony of the 31st FISU Summer World University Games, a multi-sport event hosted in Chengdu, the capital of Sichuan Province.
Georgian Prime Minister Irakli Garibashvili on Thursday started his visit to China, where he will attend the opening ceremony of the Summer World University Games, a multi-sport event hosted in Chengdu, the capital of Sichuan Province.
Archil Kalandia, the Georgian Ambassador to China, on Thursday said the ongoing visit by Prime Minister Irakli Garibashvili would contribute to intensification of trade and economic relations between the two countries.
Georgia’s deputy economy ministers Genadi Arveladze and Irakli Nadareishvili on Thursday highlighted the International Import Expo, an import industry fair looking to facilitate strengthening of economic cooperation and trade between participating states, as the “best platform” for Georgian companies to present products to Chinese consumers and importers.