China and Georgia formally signed a free trade agreement

FTA signed on May 13, 2017

China Minister of Commerce Zhong Shan met with visiting Georgian First Deputy Prime Minister and Minister of Finance, Kumishishvili, and with the Minister of Economy and Sustainable Development of Georgia, Ghazia, on behalf of the two governments signed “Free Trade Agreement between the Government of the People’s Republic of China and the Government of Georgia”.

FTA signed timetable

In September 2015, Premier Li Keqiang met with visiting Prime Minister Gary Bashvili of Georgia, and both sides confirmed the commencement of the Sino-Cuban FTA negotiations as soon as possible.

In June 2016, Vice-Chancellor Zhang Gaoli visited Georgia, and reached a consensus with Georgian President Margie Velvishvili and Prime Minister Kvili Kashvili to speed up negotiations.

The high level of leadership of both sides has greatly promoted the negotiation process. China and Georgia FTA negotiations started in December 2015, October 2016 substantive end, although lasted less than a year, but during which experienced intensive negotiations and consultations, I was in Europe and Asia to complete the first FTA negotiations.

FTA signed the scope

The Agreement covers a total of 17 chapters in the areas of trade in goods, trade in services, rules of origin, customs procedures and trade facilitation, sanitary and phytosanitary measures, technical barriers to trade, trade remedy, intellectual property and cooperation.

In the field of trade in services, the two sides have made high-quality open commitments to many service departments. Among them, Georgia has met China’s focus in the fields of finance, transportation, natural person movement and traditional Chinese medicine. China has met China in tourism, shipping and law. Georgia focuses on.

Tariff in the FTA

In terms of tariff opening, Georgia has zero tariffs on 96.5% of China’s products, covering 99.6% of Georgia’s total imports from China; China has zero tariffs from 93.9% of Georgia’s products, covering 93.8% of China’s total imports from Georgia 90.9% of the products (42.7% of the total imports) immediately implemented zero tariff, the remaining 3% of the products (51.1% of the total imports) tariff transition period of 5 years.

Trade rules in FTA

In addition, the Agreement further refined the rules of trade, the provisions of the two sides in the conduct of anti-dumping investigations shall not use third-party replacement price, while clear the future focus on strengthening cooperation.

The signing of the Agreement will enable China and Georgia to open a new chapter in economic and trade relations, which will help enhance the level of pragmatic cooperation between the two countries, increase the well-being of the two peoples, and promote the implementation of the ” Is of great importance.

After the formal signing of the Agreement, the two sides will pay close attention to the implementation of domestic procedures, and strive to the end of 2017 or early 2018 to the “Agreement” into effect.

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