Georgian Economy Minister, Chinese Commerce Minister discuss priority areas of economic cooperation

Priority areas of economic cooperation were discussed on Monday in a meeting between  Georgian Economy Minister Levan Davitashvili and Wang Wentao, the Chinese Minister of Commerce, the Georgian Ministry of Economy said.

The officials highlighted the action plan of bilateral cooperation between Georgia and China within the Belt and Road Initiative, signed in July during the visit of the Georgian Prime Minister Irakli Garibashvili to the country, and its implementation.

The meeting also pointed out the “significant changes” in trade statistics between the countries after their signing of the free trade agreement in 2018, with a 94 percent rise in trade turnover in 2022 compared to 2017 and 265 percent increase in exports to $736.9 million. The ministers emphasised the agreement could “bring more benefits” to both countries.

The discussion also covered Georgian wine exports, with the Georgian side noting the Chinese market was “promising” and a “priority” for the country’s wine industry, with 40 Georgian wine houses, shops and salons operating and about 90 domestic wine companies exporting wine to China.

The Georgian Ministry said relations between the countries in “key sectors” such as transport and logistics, as well as energy, tourism and civil aviation were also discussed.

The ministers highlighted the need for a further promotion of the Middle Corridor, a transportation route network connecting China with Europe through the South Caucasus region, to attract new cargo types and large infrastructural projects that would have a “positive impact” on the capacity of the route.

Davitashvili highlighted the project for the development of a deep sea port in the country’s Black Sea town of Anaklia, aiming to create a “new, faster” maritime corridor between China and Europe and helping to restore the historic Silk Road, as well as increase in the frequency of direct air traffic with China and other “priority issues”.

The meeting also emphasised the importance of the decision of Garibashvili last month to establish visa-free travel for Chinese citizens to the country to promote cooperation in tourism. The officials said the decision would contribute to the development of “strong bilateral economic relations” and further increase of tourist flows.

The Georgian Minister also mentioned the Tbilisi Silk Road Forum, set to run in capital Tbilisi between October 26-27 under the patronage of the Prime Minister of Georgia to examine “factors defining regional and global trade and connectivity”. 

Davitashvili said the event would feature 2,000 delegates from 60 countries, as well as high-ranking officials and international representatives of financial institutions and businesses, and expressed hope the Chinese side would participate in the Forum.