Trade-economic cooperation between the Partnership Fund and 'Sinosure' to be intensified

On September 23, Chinese delegation from the largest export insurance corporation, Sinosure- visited Georgia’s Partnership Fund. The vice-president Huang Zhiqiang is also a part of the official visit.

Partnership Fund reports that during the visit, the Sinosure delegation met with the fund's management and discussed the transition to a new stage of cooperation in the framework of the Memorandum of Understanding signed between Georgia and China in Beijing regarding the trade-economic and investment relations between Georgia and China.

The parties agreed to develop joint financing mechanisms for investment projects. The Chinese side is ready to support the attraction of Chinese investments in Georgia. The Partnership Fund and Sinosure will co-ordinate and support Georgian and Chinese projects. They will also work together under the One Belt One Road initiative.

Giorgi Danelia, Deputy Executive Director of the Partnership Fund, briefed the Sinosure delegation on Georgia's investment environment, macroeconomic performance, favorable business climate and the ratings of Georgia's leading position in the international market. For his part, Huang Zhiqiang, head of the Sinosure Corporation delegation, said they had a reliable and solid base in the region in the form of the Partnership Fund

Representatives of Sinosure expressed their readiness to support the growth of export of wine, mineral waters and other products from Georgia, as well as cooperation in areas such as high technology, minerals, agriculture, construction, energy transport and trade.

The official signing ceremony of the Memorandum of Understanding between the Partnership Fund and the Chinese Export and Credit Insurance Corporation Sinosure took place in Beijing on September 21, 2017.

This June, Executive Director of the Partnership Fund, David Saganelidze received the official delegation of Sinosure. The delegation was led by Lia Tu Feng, Director General of Sinosure's Product Management Department. It was noted at the meeting that Georgia was the first country to sign a free trade agreement with the People's Republic of China, demonstrating the interest and readiness of China's political and governmental circles to actively cooperate with Georgia.

The sides also emphasized Georgia's role in the Silk Road project. The Chinese side views Georgia as a competitive corridor linking Europe and Asia. For its part, Georgia offers investors an environment conducive to doing business through the free trade regimes of the world's leading countries and flexible tax systems.

Sinosure is the only state-owned China Export Promotion and Investment Insurance Company. Sinosure currently has about $ 4 trillion worth of insurance abroad. Chinese Export and Credit Insurance Company Sinosure is a Chinese state-funded insurance company that promotes China's foreign trade and economic cooperation. The corporation was established in 2001. Currently, it has a wide network of operations. As part of its activities, the corporation ensures China's foreign trade and investment, supports foreign trade development and economic co-operation, promotes economic growth and reduces unemployment Chinese companies invest overseas only after consultation and getting approval from Sinosure.