Georgia and China establish free trade deal

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.

Today the two countries signed a Memorandum of Intent (MoI) in China where Georgia’s Economy Minister Dimitry Kumsishvili is paying an official visit.

The MoI signing was significant because it signified the official start of negotiations on a Georgia-China free trade deal.

Both countries seek to end these negotiations as soon as possible so the private sector can benefit from increased business and trade turnover,” said Kumsishvili.

Georgia will be the first country in the region to sign this type of agreement with China.

As of today Georgia has preferential trade regimes with several markets involving 800 million consumers.

After establishing free trade relations with China, Georgia will have access to its consumer market, which boasts over two billion people.

This means the amount of Foreign Direct Investments (FDIs) will increase into Georgia, new jobs will be created and traditional markets will develop better,” said Kumsishvili.

The Minister noted the Georgian delegation had made special accents on Georgian wine and agricultural products. He said Georgian wine would enjoy a "preferential regime” to enter the Chinese market "when the negotiations [on free trade] completes”.