China impressed with Georgia’s bright investment climate

Georgia is embracing its growing ties with China by exploring new ways for mutual cooperation.

Today Georgia’s Prime Minister Giorgi Kvirikashvili hosted China’s Minister of Human Resources and Social Security Yin Weimin in capital Tbilisi.

Georgia’s bright investment climate and China’s role as an important trade partner for Georgia were discussed at the meeting, as were other topics related to deepening the bilateral partnership. Particular attention was paid to the importance of developing trade and economic relations and concluding the free trade agreement that’s currently being negotiated.

The free trade deal will be extremely beneficial for Georgia as it will facilitate increased business and trade turnover between the nations. Through the deal Georgia will be able to export its products to China without additional customs fees.

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

Establishing a free trade regime with China was initiated by Georgia’s former Prime Minister Irakli Garibashvili when he met his Chinese counterpart Li Keqiang in September 2015.

Both countries expected free trade talks to be completed before the end of this year.

Today Georgian and Chinese authorities met to discuss the ways how to deepen the two countries' relations further. Photo by the PM's press office. 

Today the two officials discussed a Memorandum of Understanding (MoU) recently signed between China’s Ministry of Human Resources and Social Security and Georgia’s Ministry of Labour, Health and Social Affairs.

The MoU outlined improving bilateral cooperation in the areas of labour and social security through exchanging experience. The document also had strategic significance in terms of sharing experience in the social policy area, and was part of the New Silk Road Project.

Kvirikashvili also told his guest that China was one of the closest economic partners of Georgia. He welcomed the growing interest of Chinese companies with Georgia’s business environment, and the increasing exports of Georgian wine to China.

Kvirikashvili said friendly business relations between Georgia and China were more noticeable now than in the past, as more Chinese companies expressed interest in investing in Georgia.

This was also evident in the tourist sector; figures showed Chinese tourists were more aware and interested in Georgia and this meant more Chinese guests were spending their holidays here.

Figures released today by the Georgian National Wine Agency showed China was now the second largest importer of Georgian wine, after Russia.

Last month alone China imported more than 3.3 million bottles of Georgian wine, or 12 percent of Georgia’s total wine exports. Last month Georgia exported more than 28.1 million bottles to 46 countries, including China.