Georgian vessels will enjoy the free access, port infrastructure and auxiliary maritime services in use, as well as related fees and charges, customs facilities and loading and unloading berths and facilities the way the local vessels do in the Hong Kong port. The above mentioned benefits for the vessels sailing under the Georgian flag are to be provided for a free trade agreement, which was signed between Georgia and Hong Kong on June 28. The Deputy Minister of Economy and Sustainable Development of Georgia, Genadi Arveladze signed the document on the behalf of Georgia.
"Georgia is a small but attractive country for international investments due to the open market, liberal economy and strategic location of the country," - Genadi Arveladze noted. As specified by the Deputy Minister, Being a strategic Partner of USA and Associated member of EU, Georgia has free trade with EU, EFTA, CIS countries, Turkey, China and now Hong-Kong. Georgia’s business-friendly policies, strong regional and oversea trade relations and geopolitical location have transformed the country into the new regional frontier for investment opportunities
In accordance with the terms of the agreement concerning the service sector, the tourism sector as well as transportation services in the direction of transportation of passengers and maritime transport have been praised to be especially flourished in Georgia. Hong Kong is an important importer of both of these services. According to the terms of the agreement, the vessels sailing under the flag of Georgia will be subject to the same terms and conditions in the Hong Kong Port as Hong Kong. In its turn, being unprecedented in contrast to agreements signed between Hong Kong and other countries, this benefit will further increase awareness and contribute to the growth of global competitiveness of the Georgian flag.
The Georgia-Hong Kong Free Trade Agreement will come into force by the end of this year. Enactment of this Agreement will further increase the trade turnover between the parties and provide Georgian entrepreneurs with a chance to supply their products and services without additional bureaucratic barriers to a 7-million high-end consumer market.
