GEORGIA INTERNATIONAL TRADE FAIR

Georgia immediately implemented zero tariffs on 96.5% of China’s products, accounting for 99.6% of China’s total imports; 90.9% of products (accounting for 42.7% of total imports) will immediately implement zero tariffs.

In 2018, the total import and export volume was 12.484 billion US dollars, an increase of 17.0%. Import reached 9.122 billion US dollars, a year-on-year increase of 14.9%.

The total GDP of Georgia in 2021 was 18.7 billion US dollars, an increase of 10.36% year-on-year, an increase of 2.857 billion US dollars compared to the previous year, and an increase of 3.593 billion US dollars compared to 2011.

In 2022, Georgia’s economy experienced strong recovery growth. After deducting price factors, the actual GDP for the year increased by 10.1% year-on-year, with a three-year average growth of 4.3%. The initial nominal GDP per capita was $6672.

Starting from September 1, 2014, the agreement between Georgia and the European Union on the establishment of a deep and comprehensive free trade zone came into effect. Products produced in Georgia can enter the EU market without paying tariffs.

The Free Trade Agreement between the Government of the People’s Republic of China and the Government of Georgia came into effect on January 1, 2018. After the agreement came into effect, the company immediately implemented zero tariffs on 96.5% of Chinese products in terms of goods trade, accounting for 99.6% of the total imports from China; China imposes zero tariffs on 93.9% of its products, accounting for China’s total imports. 93.8% and 90.9% of products (accounting for 42.7% of imports) will immediately implement zero tariffs, while the remaining 3% of products (approximately 51.1% of imports) will gradually decrease to zero tariffs within 5 years. In terms of service trade, both sides have further opened their markets to each other on the basis of their respective WTO commitments. In addition, both sides have reached broad consensus in various fields such as environment and trade, competition, intellectual property, investment, and e-commerce.

The China Georgia Free Trade Agreement is the first free trade agreement signed between China and Eurasian countries. This is also the first free trade agreement launched and reached by China after the “the Belt and Road” initiative. The implementation of the agreement is to implement the specific measures of the 19th National Congress of the Communist Party of China on “promoting the construction of free trade zones and promoting the construction of an open world economy”. This is of great significance for promoting the free trade zone strategy and implementing the “the Belt and Road” initiative.

Foreign exchange control

Georgia’s foreign exchange policy is non regulatory. That is to say, you made money in Georgia. You can exchange it for a foreign exchange point and take it out. You don’t need any procedures or fees.

The foreign exchange rate is pegged to the US dollar and is freely floating and regulated by the market. The Georgian currency is basically stable, usually 2:1, which means that the Lari is two local currency units against the US dollar.

Population and labor value

The labor force in Georgia has a high quality and generally has received university education. Elderly people have the personality of past people, able to endure hardships, be proficient, and endure hardships.

There are no restrictions on exports to Europe and the United States

Georgia does not have any quota or license restrictions on exports to Europe and the United States. It transports goods to Georgia and exports them, or performs simple processing in Georgia to avoid anti-dumping and achieve a win-win situation. Georgia joined the World Trade Organization one year earlier than China and joined the country as a developed country. There are many strategies that can be used.