On 1 January 2018, the Free Trade Agreement (FTA) between China and Georgia entered into force and implemented. China-Georgia FTA is the first FTA China has signed with Eurasian countries as well as the first Free Trade Agreement China has initiated and achieved since the Belt and Road Initiative was put forward. The negotiation on China-Georgia FTA was launched in December 2015, and the agreement was signed in May 2017.
After the agreement has gone into effect, in terms of the trade in goods, Georgia will impose zero tariffs on 96.5% of China’s products immediately, covering 99.6% of the total imports from China; China will impose zero tariff on 93.9% of Georgia’s products, covering 93.8% of China’s total imports from Georgia, of which 90.9% (taking up 42.7% of imports) will have zero tariffs immediately and the remaining 3% (taking up 51.1% of imports) will gradually have zero tariff within 5 years. In terms of trade in services, both sides will further open their markets to each other on the basis of their WTO commitments.
