Free Trade Agreement between Georgia and China has come into play on January 1, 2018, making Georgia the first country in the region to have such a deal with China, Agenda reports.
Starting from January 1, 2018 Georgian wine, mineral waters, honey, tea, fruit, vegetables and agricultural products will be exported to China and its market of 1.4 billion consumers, with zero tariffs, without additional customs fees and without any transition period.
Georgia and China began discussing the possibility of establishing a free trade regime back in September 2015, however, the Memorandum on finalising a Free Trade Agreement was signed in October 2016 and the agreement was finally signed in May 2017.
In recent years Georgia has forged strong ties with China through bilateral trade and economic cooperation; Georgian wine is one of the most promising exported products to China.
Last year, 7,585,407 bottles of Georgian wine were exported to China, says the Georgian National Wine Agency. This is a 43 percent increase compared to 2016. With these numbers, China takes third place as the largest importer of Georgian wine.