Georgian Minister of Infrastructure Takes Part in “One Belt-One Road” Forum in China

Georgian delegation headed by Minister of Regional Development and Infrastructure and Vice Premier Minister, Maia Tskitishvili is paying a working visit to the People's Republic of China in terms of "One Belt - One Road" Forum. Deputy Minister of Economy and Sustainable Development Genadi Arveladze and General Director of JSC "Georgian Railway" Davit Peradze are in Georgian delegation as well.

"One Belt- One Road" is a short title of the "Silk Road Economic Girdle" and "21st Century Silk Road" presented by China's President Xi Jinping in 2013. It aims to promote joint development between the European and Asian countries through strengthening cooperation in various fields. The "One Belt- One Road" initiative has been supported by more than 100 countries and international organizations in the last years. Georgia is one of the most active participants.

Within the framework of the visit, Vice Prime Minister delivered a speech at the forum "Economic and Traditional Cooperation Forum". Maia Tskitishvili emphasized the importance of the "one belt, one road" initiative in strengthening trade and investment links between Silk Road countries and creating a favorable environment for entrepreneurial activities.

“Georgia is among first countries who signed the Memorandum of Understanding on "Cooperation on the Development of Silk Road Economic Growth" in March 2015. This initiative will be considered as an unprecedented mechanism for strengthening bilateral trade and investment relations and the development of a number of infrastructural projects. In order to promote bilateral trade and economic relations, in January 2018, an agreement on free trade between China and Georgia entered into force. I am proud that today Georgia is the first country in the region that has free trade agreements with the EU (DCFTA) and China," said Vice Premier.

Maia Tskitishvili also spoke about the importance of Georgia in the region. She pointed out that strategical positioning in the region along with well-developed transport and customs infrastructure, business-friendly politics and strong external trade relations will help the country in aspiring its goal to be the shortest and safest route for circulating cargos between China and Europe.

Among other things in her speech, Tskitishvili devoted time to the development of free industrial zones in Georgia. The Minister noted that Georgia welcomes the activation of foreign companies in the free industrial zones of the country in order to use the 2.3 billion markets using their preferences. According to the Vice Prime Minister, there are 5 free industrial zones currently operating in Georgia with special taxation regime.

"In 2017, in order to utilize more of the potential of trade relations between Georgia and China, the Memorandum of Understanding was signed on the development of economic zones. Such zones help to deepen trade-economic relations, development of business potential and entrepreneurial clusters. The development of economic and trade cooperation zones is important for strengthening trade relations between the Silk Road countries, encouraging entrepreneurs, which in turn activates many sectors of economic activity, creates more jobs and contributes to improving living standards," said Maia Tskitishvili.

At the end of her speech, after thanking Chinese side for invitation and hospitality, Tskitishvili encouraged all participants of the Forum to attend the third Silk Road Forum which will be held in Georgia’s capital city of Tbilisi in October 2019.