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Publish Date : 18-May-2017

In a bid to boost bilateral trade, China has signed a free trade agreement (FTA) with Georgia.

The two countries agreed to boost cooperation in goods trade, service trade, trade remedy and other fields, according to the deal, which will become effective at the end of 2017 or early 2018.

Once the deal enters force, Georgia will impose no tariff on 96.5% of goods from China immediately, while 90.9% of China's imports from Georgia will be free from tariff immediately and another 3 percent will be exempted from tariff within five years.

Georgia said it will open further in service trade covering financial, transport and other sectors, while China will further open its tourism and ocean shipping markets to Georgia.

The two countries started the FTA talk in December 2015 and ended it substantively in October 2016. It is the first FTA that China accomplished in Eurasia.

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