Georgian Deputy Economy Minister highlights expanding trade, tech partnership with China

Irakli Nadareishvili, Deputy Minister of Economy and Sustainable Development of Georgia, on Friday said China holds a central place for Georgia as an export market and was a very important partner, noting that following the entry into force of the Free Trade Agreement, trade turnover increased to USD 2.3 billion last year and continues to grow rapidly.

In his interview with the Chinese state television network CGTN, Nadareishvili noted that Georgia’s IT and technology sector has grown from almost zero over the past five years to nearly 10% of GDP, supported by a special regulatory and tax regime that already benefits many international companies.

“We have a special regulatory and tax regime for technology companies, which many international companies are already benefiting from. Accordingly, we look forward to Georgian technology companies meeting with their Chinese counterparts”, Nadareishvili said.

“We are looking forward to Georgian businesses and the private sector meeting new partners. For example, if we look at the IT and technology sector, over the past five years it has become a very interesting success story for Georgia, as it developed from an almost zero starting point and today accounts for nearly 10% of Georgia’s GDP. We have a special regulatory and tax regime for technology companies, which many international companies are already benefiting from. Accordingly, we look forward to Georgian technology companies meeting with their Chinese counterparts”, he continued.

The Deputy Minister explained that this was the first time Georgia has participated in CIFTIS.

He also highlighted the opportunities that the platform offers to participating companies and countries.

Nadareishvili emphasized Georgia-China relations and noted that China holds a central place for Georgia as an export market.

“First and foremost, it is one of the largest markets, while Georgia definitely needs to diversify its markets from one particular region to a broader geographical area. China is a very important partner. Following the entry into force of the Free Trade Agreement, trade turnover increased to USD 2.3 billion last year and continues to grow rapidly. When we discuss CIFTIS and the services sector, I think this will add another new dimension to our bilateral cooperation, allowing us to similarly work on the development of the services sector, exports, and investment. This is exactly what we expect to achieve from this event and, more broadly, from the agenda of our bilateral relations”, Nadareishvili concluded.