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Second Stage of Georgia-Hong Kong Free Trade Agreement Negotiations Underway

Tbilisi hosted the second phase of negotiations between Georgia and Hong-Kong, a special administrative unit of People’s Republic of China, on free trade relations, Ministry of Economy of Georgia reports.

The Georgian delegation was led by Deputy Minister of Economy Genadi Arveladze.

“Government follows the policy of opening additional markets to exporters. It is very important to have finished the mentioned negotiations on key provisions of free trade relations in two phases. We will continue working on several issues as part of our workgroup”, Genadi Arveladze said.

At the meeting the parties discussed such issues as trade in goods and services, customs procedures, regulations for origin of goods, institutional issues and protection measures in trade relations. The parties have achieved agreement on all key directions. Only several issues remain open that will be agreed as part of working meeting.

Signing free trade agreement with Hong-Kong will be an additional a step forward. After enactment of the agreement, Georgia will have access to a new market with 7.3 million residents. As a result, Georgia’s investment attractiveness will increase and the agreement will make positive affect on economic development of Georgia.