Georgia and China have signed a deal under the One Belt- One Road project.
Georgia-China and Poti Free Industrial Zone
By Gvantsa Gabekhadze
Wednesday, January 18
The Memorandum of Understanding between the Government of Georgia and the CEFC China Energy Company Limited was signed on January 15 in Tbilisi.
The goal of the memorandum is to encourage the realization of the potential of the New Silk Road. China’s initiatied to link Europe with Asia via shortest routes, through the implementation of joint efforts.
One of the joint initiatives recently agreed included the purchase of 75% of the shares of the Poti Free Industrial Zone in west Georgia by CEFC China Energy Company Limited.
The company plans to further develop the Poti Free Industrial Zone through sharing the best practices of China's developed industrial zones and attracting investments in the development of processing, modern technology, warehouse management and logistics.
The Georgian Government press office added that CEFC China Energy Company Limited is a leading international company specializing in energy, finances, commerce, trade and logistics.
Its revenues place the company on the Fortune (Fortune Global 500) list of the top 500 companies
“Given its experience, performance, and expertise, CEFC China Energy Company Limited can make a tremendous contribution not only to the development of the Poti Free Industrial Zone, but to the strengthening of Georgia as a transport and logistics hub,” the Press Office stated.