Kvirikashvili: free trade with China to attract new investment

Kvirikashvili: free trade with China to attract new investment

The Georgia-China Free Trade Agreement will encourage Chinese companies to invest in Georgia, the country's Prime Minister Giorgi Kvirikashvili said.

This agreement was reached as Georgian Vice Prime Minister, Finance Minister Dmitry Kumsishvili met with Chinese Vice Premier Wang Yang in the city of Hefei in China.

Kumsishvili said that large Chinese investments in Georgia are important as they create new jobs in the country and also make it possible to make full use of opportunities provided under the recently signed the Georgia-China Free Trade Agreement.

"We asked the Chinese side to launch a new project under the One Belt – One Road initiative to support Chinese private companies that will be represented in Georgia”, Agenda.ge cited Kumrishvili as saying.

The pair also discussed the memorandum Kumsishvili signed in Beijing three days ago with Shanghai’s largest corporation, CEFC. Under the memorandum, a Chinese bank with $1 billion capital will open in Georgia to support Chinese companies do business in Georgia.

Kumsishvili and Yang discussed trade issues as well and agreed that the two states will work to increase trade turnover between Georgia and China to $1 billion.

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