MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Vice Prime Minister, Minister of Economy and Sustainable Development Levan Davitashvili met with Minister of Commerce of the People's Republic of China Wang Wentao.

Priority areas of economic cooperation between the two countries with special attention to the action plan of bilateral cooperation between Georgia and China within the framework of the Belt and Road Initiative and its implementation were discussed during the meeting. The action plan was signed in July 2023 during the visit of the Prime Minister of Georgia to China.

The meeting focused on the development of trade and economic relations with China after the Free Trade Agreement between the two countries came into effect. It was noted that 5 years after its entry into force, the trade statistics between China and Georgia have changed significantly. In particular, in 2022, compared to 2017, the trade turnover was increased by 94%, and the exports – by 265% amounting to 736,9 million USD, the structure of exports also changed significantly, and new export products from Georgia appeared on the Chinese consumer market. At the same time, the ministers emphasized the fact that the agreement can bring more benefits to both countries.

Attention was also drawn to the potential of exporting Georgian wine to China. It was noted that the Chinese market is one of the most promising and priority for the Georgian wine industry and there are about 40 Georgian wine houses, shops and salons operating in China, and about 90 Georgian wine companies are exporting wine. According to the information of the Georgian side, it is important to identify Chinese marketing and wine distribution companies in order to increase awareness and sales of Georgian wine in China.