On November 28, 2017, Vice Minister of Commerce Qian Keming attended the “Tbilisi Belt and Road Forum” held by the government of Georgia, and met with Georgia’s First Vice Prime Minister Kumsishvili. They confirmed that both sides had completed the domestic approval process of The Free Trade Agreement Between the Government of the People's Republic of China And the Government of Georgia (referred to as the agreement), and announced that the agreement would come into force on January 1, 2018.
The negotiation on the agreement was launched in December 2015, and the agreement was signed in May 2017. The leaders of China and Georgia had closely followed it all the time and repeatedly showed their strong will to launch and accelerate the negotiations. This has greatly promoted the negotiations and quickened the effect taking of the agreement.
Georgia is located at the crucial node of the Belt and Road with sound business environment. It is China’s important trade and economic partner in Eurasian region as well as the first country signing the Free Trade Agreement with China in that region. The agreement is the first Free Trade Agreement China has launched and reached since the Belt and Road Initiative was put forward. It is a specific move to make new ground in pursuing opening up on all fronts and develop an open economy of higher standards. According to the agreement, both sides should eliminate the tariffs on most products of trade in services and make high-quality commitment in opening market to each other’s numerous service departments and improve the rules on the IPR, environmental protection, e-commerce and competition. The agreement will provide more open, convenient and stable business environment for both countries’ enterprises and offer more quality and cheap products and services for consumers. By taking the opportunity of the effect taking of the agreement, China and Georgia will comprehensively improve both sides’ practical cooperation level, thus firmly promote the Belt and Road construction and achieve common prosperity.
The agreement’s text, schedule of tariff concessions and schedule of trade in services concessions can be found at the China FTA Network (http://fta.mofcom.gov.cn).
