Georgia-China Free Trade Deal To Soon Become Effective
by Mary Swire, Tax-News.com, Hong Kong
21 December 2017
China and Georgia are to reduce tariffs on bilateral trade from January 1, 2018, under the free trade agreement the two countries signed earlier this year.
The FTA, signed on May 14, is the first FTA signed between China and a Eurasian state and will be significant for Georgia, as China is its third-largest trade partner and its second-largest source of imports.
The trade deal provides for the elimination of Georgian tariffs on 96.5 percent of tariff lines. Within five years of the deal becoming effective, China will remove its tariffs on 93.9 percent of tariff lines from Georgia.
In 2014, trade volume between the two countries reached USD960m and Chinese direct non-financial investment in Georgia totaled US530m.
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