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Free Trade Agreement with China and Europe – Schuchmann Wines Georgia Evaluates 6 Months

Several important economic reforms have been implemented in the country since January 2017. The private sector names some of the most helpful directions.

Among them is the act of concluding a free trade agreement with China, which Georgia is waiting to be entried in force in a few months.

Nutsa Abramishvili,general director of Wine Producer Company ‘’Schuhmann Wines Georgia’’ says to ‘’Commersant” that 6 months of current year was quite challenging for Georgian economy.

‘’Free Trade Agreement with China was one of the most important factors. Prior that Free Trade Agreement was activated within European association. As a result, we get two largest market where doors are open for Georgian products. We should have an effective trade to add a value in Georgian Economy.’’-says Abramishvili.

She hopes that wine won’t be the only product that will be exported and Georgian Entrepreneurs will create competitive products by its standard. ”Schuhmann Wines Georgia” exports Georgian wine to more than 20 countries. Among them are: The United States, China, European countries, Baltic countries and others.

Abramishvili names another positive direction for business. In particular, the profit tax of the so-called Establishment of the Estonian model, which means that the company / enterprise will be taxed only if the profit is taxed, and if it is fully reinvestment, it will be exempt from that tax.According to the amendments, the company, which does not share the profits and reinvest the amount, does not pay the profit tax. The distributed profit is usually taxed at 15%.