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Georgia-China Free Trade Agreement Boosts Economic Ties and Regional Benefits, Says Davitashvili

By Liza Mchedlidze
Thursday, October 19, 2023
Minister of Economy and Sustainable Development, Levan Davitashvili, delivered a speech at the 'Promotion of High-Level Trade Relations' session in Beijing. He stated that Georgia is the only country in the region with a free trade relationship with both the European Union and China.

According to Davitashvili, the Georgia-China free trade agreement not only enhances trade and economic ties between the two nations but also provides broader regional benefits.

In his speech, the Economy Minister emphasized the Government of Georgia's special focus on strengthening the country's transit function and establishing a trade-logistics hub in the region, adding that to develop the transit function of the region and make the most of its advantages, Georgia actively participates in various transport corridors in cooperation with partner countries.

"Given the growing need to diversify supply chains, the Middle Corridor is gaining more and more appeal as a viable alternative. This corridor can offer tangible advantages, such as shorter transit times compared to sea transportation routes and broader access to various regions and markets," said Davitashvili.

The Vice Prime Minister also emphasized the visit of the Prime Minister of Georgia to the People's Republic of China in July 2023, which, according to the minister, marked the beginning of a new era of partnership between the two countries. As a result of the visit, the joint statement of the People's Republic of China and Georgia on the establishment of a strategic partnership was adopted, shaping the cooperation between the two countries for the coming years.

"Georgia, which pursues a liberal trade and economic policy and has simplified customs procedures, can proudly present itself as a catalyst for simplified trade and transport infrastructure, providing essentially the shortest route from Far Asia to Europe," said Levan Davitashvili.