"Contribution to the untapped trade regime, enhancement of trade and investment ratio, as well as strengthening of business environment is of utmost importance for the Belt and Road Initiative countries,” – the Deputy Minister of Economy and Sustainable Development of Georgia, Genadi Arveladze declared during the business visit to Hong-Kong, China, at the summit of the Belt and Road Initiative, where a free trade agreement between Georgia and Hong Kong was jointly signed.
Genadi Arveladze made a number of important emphasis while addressing the importance of trade, economic cooperation and sustainable development in line with different measures implemented within the frameworks of the Belt and Road Initiative (Silk Road). “In this regard important role is assigned to the trade liberalization through regional and bilateral free trade agreements that create solid basis for removal of trade barriers and deepening intra-regional trade. In connection to that it is symbolic that today we have signed Georgia-Hong Kong, China Free Trade Agreement that we hope will come into force by the end of this year,” - Genadi Arveladze stated.
As declared by the Deputy Minister, the FTA between Georgia and Hong-Kong will not only enhance bilateral trade and economic links, but will also have broader regional benefits also taking into consideration Georgia’s other FTAs, especially with the EU and China.
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. Considering that, Georgia can be a unique place as an intermediary link for processing and manufacturing of goods bound to Europe as well as to Asia.
