Georgian Economy Minister says Gov’t supporting “growth, job creation” through free trade agreements

Georgian Economy Minister Levan Davitashvili on Thursday highlighted the Government’s commitment to promoting economic growth and job creation through implementation of free trade agreements, in comments at the opening of the China International Fair For Trade In Service in Beijing.

The liberalisation of trade in services is a top priority for Georgia as we strive to integrate into the global economy. By reducing barriers to trade in services, we aim to provide businesses with greater market access and attract more investment in key sectors such as information and communications technology, finance, logistics, and tourism”, the Minister told the event.

This liberalisation process has been made possible through free trade agreements, which include comprehensive chapters on services, strengthening cooperation and market opportunities”, he added.

Davitashvili highlighted the importance of cooperation with China in trade in services, citing the free trade agreement signed in 2017 as a testament to the “growing strategic partnership” between the two countries.

• Georgia, China sign historic Free Trade Agreement

He also pointed out his Government had signed free trade agreements with the European Union, the European Free Trade Association, Turkey, Hong Kong and the United Arab Emirates, expanding the country’s access to service markets and contributing to the growth of trade in services with global partners.

The Minister said the mentioned agreements reflected the “strategic vision” of the Government to position the country as the “primary trade hub” in the wider region, particularly for “essential services in today's digital and interconnected world”.

Davitashvili said the Government was investing in infrastructure, innovation, and education to ensure the country's economy was “competitive” and prepared to “effectively engage” in the global markets of the future.

He emphasised Georgia’s “strategic location”, which he said offered opportunities to boost international trade in services and investments. Davitashvili noted the Middle Corridor - a logistics route connecting Central Asia and China to Europe via the South Caucasus through Georgia - was becoming a “preferred option” for diversifying supply chains due to its “shorter travel times and greater access to various regions and markets”.

Georgia is currently working on significant infrastructure projects across all modes of transportation, such as the modernisation of the East-West highway and railways. The Government has made the development of both existing and new port infrastructure a top priority”, the Minister said.

Davitashvili emphasised the exhibition in the Chinese capital was “one of the largest profile events globally” and presented an “excellent opportunity” for the development of cooperation between the public and private sectors. He noted “challenges we face require us to work together, share knowledge, and make decisions that benefit us all”, adding Georgia was “proud to be a part of this dynamic exchange”.