The FINANCIAL — “China’s import annually amount to 56 billion USD and the imported product include the products that are traditionally produced in Georgia today. Therefore, we have significant opportunities to increase the export to China. Last year export to China exceeded 200 million USD,” – the First Vice Prime Minister of Georgia, Minister of Economy and Sustainable Development Dimitry Kumsishvili stated upon the completion of the meeting with the heads of the business unions dedicated to the China International Import Expo, which is scheduled to be held on November 5-10 in Shanghai, China.
In May 2017, within the framework of the One Belt, One Road forum, the President of the People’s Republican of China, Xi Jinping introduced the initiative to conduct the international exhibition in Shanghai. The first exhibition will be held this year and will be held annually during the next five years. The official hosts of the exhibition are the Ministry of Commerce of the People’s Republic of China and People’s Government of the Shanghai City Municipality. The exhibition is supported by the World Trade Organization and the United Nations Industrial Development Organization, according to Ministry of Economy and Sustainable Development of Georgia.
“The initiative of the President of the People’s Republican of China, Xi Jinping, announced last May has become a reality and we are invited as honorary guest to the event,” – the First Vice Prime Minister stated and added that “Shanghai Exhibition is a unique opportunity for Georgian exporters. In the following five years, China will import over 10 trillion USD goods and services.”
Dimitry Kumsishvili highlighted that bilateral trade with China is characterized with more that positive trend. In 2017, the trade turnover with China was increased by 24% and over 7.6 million bottles of Georgian wine was sold in China.
According to the First Vice Prime Minister, the Free Trade Agreement with China that got in force since January 2018, will further increase the opportunities for Georgian companies at the Chinese market.
“The Free Trade Agreement with China also provides a unique opportunity to bring the tourists from China and I’m sure that our tourist companies will use it for good,” – Dimitry Kumsishvili stated and noted that the tourist flow from China was increased by 54% last year. “However, there is a huge opportunity to further increase this number,” – the First Vice Prime Minister noted.