The FINANCIAL -- Minister of Economy and Sustainable Development of Georgia Giorgi Gakharia, within the frames of the official visit to the People’s Republic of China, had a meeting with the leaders of the Silk Road Fund.
Deputy Minister of Economy and Sustainable Development of Georgia Genadi Arveladze and the representatives of the Embassy of Georgia to China also attended the meeting.
Giorgi Gakharia highlighted once again the importance of the Free Trade Agreement signed between Georgia and the People’s Republic of China and the economic benefits that the free trade regime will bring to both of the countries within the Silk Road. The Minister noted that Georgia’s geographic location and investment-friendly environment allow it to expand its potential and become the regional hub for transportation and logistics services introducing significant function in freight transportation between Asia and Europe. Giorgi Gakharia also talked about the on-going infrastructural projects in Georgia that will undertake extremely important role in rapid development of the Silk Road transportation corridor.
Both parties approved the signing of the Free Trade Agreement that will eliminate additional obstacles for trade and facilitate its further development, which is very important for the implementation of the Belt and Road initiative, according to Ministry of Economy and Sustainable Development of Georgia.
Silk Road Fund and its significant contribution in the Belt and Road implementation was particularly highlighted during the conversation since the Fund provides support for the participant countries in developing infrastructural and energy corridors. Since Georgia is one of the active supporters of the Belt and Road project, Georgian delegation confirmed Georgia’s interest in closer cooperation with the Fund in term of supporting different projects aiming to increase the country’s transit capability as well as its role in the Belt and Road project.
The parties decided to establish a joint working group, which will work on the development of the certain projects.
Giorgi Gakharia informed the leaders of the Fund upon the up-coming Belt and Road Tbilisi Forum 2017, which is scheduled to be held in November and invited them to participate in the event.
Silk Road Fund was established in order to support the implementation of the Belt and Road project and the Chinese government pledged 40 billion USD to the Fund to support the project. On May 14, at the international forum Belt and Road held in Beijing, it was announced that additional 14 billion USD is allocated to the Fund.