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January 2018:

Free trade deal between Georgia & China comes into play

A Free Trade Agreement between Georgia and China came into play on January 1, 2018; this makes Georgia the first country in the region to have such a deal with China. From this date, Georgian wine, mineral waters, honey, tea, fruit, vegetables and agricultural products will be exported to China and its market of 1.4 billion consumers. This trade will take place  with zero tariffs, without additional customs fees and without any transition period.

In recent years Georgia has forged strong ties with China through bilateral trade and economic cooperation; Georgian wine is one of the most promising exported products to China.

According to agenda.ge, China is one of Georgia’s top trading partners. Georgia’s top 10 trade partners in January-November 2017 made for 66.5 percent of the country’s total trade turnover, with Turkey ($1.41 billion), Russia ($1.05 billion) and China ($834.3 million) filling the top three spots.


Publication date: 1/8/2018


 


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