Georgia, Hong Kong Free Trade Agreement Takes Effect
A Free Trade Agreement (FTA) between Georgia and Hong Kong, the special administrative region of the People’s Republic of China, came into force on February 13, according to the Ministry of Economy and Sustainable Development of Georgia.
The Ministry said the agreement aims to determine the terms of free movement of goods between Georgia and Hong Kong as well as to promote trade in services.
“Enactment of the agreement will promote the growth of trade turnover between the sides and open up opportunities for Georgian entrepreneurs to offer their products and services to a seven-million consumer market without additional bureaucratic barriers,” the Ministry stated.
Georgia’s trade turnover with Hong Kong, according to the State Statistics Office Geostat, stood at USD 24.28 million in 2018, with exports at USD 1.83 million (USD 6.35 million in 2017) and imports at USD 22.45 million (USD 102.58 million in 2017).
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