“The development of relations between China and Georgia is very important,” Georgian Finance Minister and Vice-Premier Dimitri Kumsishvili stated at the second seminar on trade-economic cooperation, organized by the state-led Partnership Fund of Georgia and the People's Government of the Province of Xinjiang.
Minister says Georgia should learn from China’s experiences
By Tea Mariamidze
Tuesday, August 15
The minister noted that a free trade agreement was signed in May between Georgia and China, and the countries should deepen mutual economic ties.
“Our main task is to create jobs in Georgia and it is important for us to export certain industrial capacities from China and to implement them in Georgia,” he added.
Kumsishvili noted that it is important for Georgia to learn from the experience of China in terms of infrastructural projects.
He said the Province of Xinjiang is a very large province which has “good experience” in this field.
“This is a very developed province with several thousand kilometers of highways and fast railways and consequently, sharing their experience in Georgia, as well as proper usage of Georgian resources, will be very good for our country,” Kumsishvili said.
The final Free Trade Agreement between Georgia and China was finalized on May 17 2017, in a record-breaking time of seven months, making Georgia the first country in the region to have such an agreement with China.
As a result of the deal, Georgian wine, mineral waters and agricultural products will be exported to China and its market of 1.4 billion consumers, with zero tariffs, without additional customs fees and without any transition period.
Georgia and China began discussing the possibility of establishing a free trade regime back in September 2015; however, the Memorandum on finalizing a Free Trade Agreement which entered into force on May 17 was not signed until October 2016.