Free Trade Agreement between Georgia and Hong Kong /the Special Administrative Region of the People’s Republic of China/ became effective from February 13 this year.
Georgia-Hong Kong /China/ Free Trade Agreement was signed on June 28, 2018, in Hong Kong within the framework of the One Belt- One Road summit.
The purpose of the agreement is to determine the terms of the free movement of the goods between Georgia and Hong Kong – the Special Administrative Region of the People’s Republic of China as well as to promote trade of services. The new generation agreement between the parties also covers such topics as promotion of customs and trade, intellectual property rights, technical barriers to trade, sanitary and phytosanitary measures, etc.
Georgia is the first country in the region with whom Hong Kong has signed a free trade agreement. The agreement will increase awareness of Georgia, its business climate and promote trade and investment flows between Hong Kong and Georgia.
Hong Kong conducts open economic policy and represents one of the largest key transnational financial centers of the world.
Enactment of the Agreement will facilitate the growth of the trade turnover between the parties and give Georgian entrepreneurs chances to introduce their products and services without additional bureaucratic barriers to a 7-million consumer market.
The EU is the world’s largest market and a Deep and Comprehensive Free Trade Agreement with Georgia, the Republic of Moldova and Ukraine offers new opportunities for companies in these countries. Fashion house ‘Materia’, based in Tbilisi, is one of them, says an article published by the European Bank for Reconstruction and Development (EBRD).
Offering its customers a premium clothing line and more affordable products, the fashion house also sells its clothing to various public institutions in Georgia including the army, police, post office staff and many more.
It works closely with the Georgian Rugby Federation to produce uniforms for the national team’s junior players and a wide range of rugby clubs, including Goris Jiki, which won this year’s domestic club championship.
The business has secured financing to modernise its equipment and introduce the best workplace health and safety practices for a new clothing factory, in line with EU standards. This will help the fashion house to take full advantage of export opportunities. The firm was one of the first to benefit from the EU4Business-EBRD Credit Line.
The EU4Business-EBRD Credit Line – a joint initiative between the EBRD and the European Union – targets small and medium-sized enterprises in Georgia, the Republic of Moldova and Ukraine. All three countries are signatories to an Association Agreement and benefit from signing up to the Deep and Comprehensive Free Trade Area with the EU.
The Credit Line helps interested businesses to make the most of open access to the EU, the world’s largest trading block, by modernising their production and services in line with EU standards.
The hereby Agreement will allow Georgian entrepreneurs introducing own goods and services to the largest world market without bureaucratic impediments.
Besides, the agreement will facilitate to increase of trade turnover between the signatory countries. The document provides active cooperation in various directions and defines free trade conditions.
The Agreement facilitates to economic development of the country and better employment. Besides, the document will encourage entry of potential foreign investors to Georgia.
The negotiations on the agreement started on November 10, 2015 in China within the World Economic Forum after the meeting of the Prime Ministers of Georgia and China. Georgia is the first country in the region with free trade agreement with China.
Georgian government delegation led by Prime Minister Giorgi Kvirikashvili in company with Georgian students and representatives of various communities travelled to Europe on the first flight after the launch of visa-free travel with the EU.
“It is the first historical visa-free travel of Georgian citizens to the EU/Schengen area. Visa liberalization offers Georgian citizens a broad spectrum of opportunities. Here are students who can freely establish contacts with their European friends and colleagues. Here are also businessmen who will be able to find partners throughout Europe, across the 500-million market. Visa-free travel also gives representatives of culture an access to various European programmes and funds and an opportunity to develop joint projects together with European partners” – Mikheil Janelidze said.
The Georgian delegation will first arrive in Athens - the cradle of the European civilization, where they will take part in the Conference titled “Georgia from Europe to Europe”. While in Greece, the Georgian Prime Minister will meet his Greek counterpart Alexis Tsipras.
Members of the Georgian delegation will visit the historical part of the city and then will leave for Brussels where they will hold meetings Donald Tusk, President of the European Council and Jean-Claude Juncker, President of the European Commission. A reception evening will be held in Brussels on the occasion of Georgia’s visa liberalization.
On March 28 the EU decision on visa free travel for Georgia enters into force. “The decision on visa free travel to Georgia was made by the European Parliament on February 2. March 28 is a historical day for modern Georgia as it his opportunity becomes real for Georgian citizens. I would like to congratulate our citizens with this significant progress and wish Georgia good luck on EU integration path”, - the Chair of the EU Integration Committee, Tamar Khulordava stated at the briefing.
This decision is a result of the reforms held in Georgia with active participation of all Governmental branches. “It is valuation of the wide-scale legislative and institutional reforms we started in February, 2013 since Georgia was granted VLAP. Georgian citizens were the witnesses of the entire process. We expected the day when we would be able to state that since now on Georgian citizens with biometric passports are entitled to travel visa free to EU”.
This day and this decision are historical not only because travel to Europe will be technically simplified but because this day is the symbol that Georgia regains its appurtenant historical place in European family amongst the countries to which Georgia always belonged according to the value system, approaches and ambition. She also spoke about active campaign on visa liberalization for public awareness. “We shall take due responsibility to realization of this right. I am glad to see the active campaign by Georgian Government to inform Georgian citizens about visa free travel to Europe and Schengen. All the citizens shall realize the responsibility imposed on us as we all saw the vast time realization of this opportunity took. It is no reality and it is the matter of our dignity how we will realize it”.
She called on Georgian citizens to have high responsibility and adhere to the regulations established in EU. “Once again, let me congratulate you with this progress and I wish it not to be the last step of our progress to European family. We have higher ambitions and we are aspired to make our European wishes come true. Europe is our common future and we shall stand united on this path”.
The President of Georgia: "With This Step We Are Presented with More Opportunities of Integration with Europe"Thursday, 02 March 2017 11:40
It is once more confirmed that European Institutes support Georgia. Despite the difficult period they made an agreement,-This statement was made by the Foreign Minister of Georgia.
Mikheil Janelidze thanked to all who has been working on this issue with Georgia and Ukraine.
“We are too close with our goals. We are waiting for good results for our citizens and the people living in the occupied territories of Georgia,”-Mikheil Janelidze said.
We expect free and fair elections in October, 8, 2016 – this statement was made by the Prime Minister of Lower Saxony and the Vice President of European People’s Party David McAllister. According to him, 2016 Is too important for Georgia and its democracy.
David McAllister said that he supports United National Movement in this election and wished it success.
“We want to be a member of European Union so we expect fair and free elections in Georgia. I wish success to United National Movement. As a Vice President of European People’s Party, I wish Georgia to continue its implementing reforms,”- David McAllister said.