The FINANCIAL — First Vice Prime Minister, the Minister of Economy and Sustainable Development of Georgia, Dimitry Kumsishvili met with the Executives as well as the President of the Development Bank of China.
Representatives of the Partnership Fund also attended the meeting, according to Ministry of Economy and Sustainable Development of Georgia.
At the meeting the sides discussed trade and economic relations between Georgia and China and considered the existing opportunities for the future cooperation. Particular attention was paid to the partnership existing between Georgia and China under the umbrella of the global Belt & Road Initiative.
According to Dimitry Kumsishvili, Georgia supports the basic principles of this initiative. As the Minister added, Georgia is a part of the historic Silk Road while the route which passes through the country has already been internationally recognized as a Middle or Central Corridor.
The two sides also dwelt upon the further cooperation issues within the framework of the Belt & Road Initiative. As it was noted, the CDP has allocated more than 30 billion USD for financing the projects in the participant countries of this initiative. The meeting also discussed the possibility of opening the Regional Office of the Development Bank of China in Georgia.
As it was said at the meeting, after the Free Trade Agreement with China, the interest of Chinese companies, including banking institutions, has increased towards Georgia. The sides also discussed the specific priorities and projects of the Development Bank of China, as well as the support that the CDP will offer to Chinese companies for the investment projects in Georgia.
The First Vice Prime Minister of Georgia, Dimitry Kumsishvili also stressed the importance of cooperation in the joint economic, industrial and other types of free zones with China and noted that within the framework of the Belt & Road Forum, the Memorandum of Understanding was signed, according to which Georgia and China will help the Chinese enterprises to develop the economic zones and industrial cooperation opportunities in the field of entrepreneurship in Georgia.
Economic zones include industrial zones, industrial parks, economic and technological parks, as well as industrial clusters parks, special economic and free economic zones.