Wine exports from Georgia to China are expected to rise after the two nations signed a free trade agreement (FTA). China will reduce tariffs on 93.9% of products from Georgia with effect from either later this year or early in 2018. The deal is designed to boost economic ties between the world’s second and third largest economies. This agreement is being seen as an important part of the Chinese government’s One Belt, One Road initiative to build infrastructure and connectivity in Eurasia. The tariff on remaining products will be reduced over a period of five years. Georgian wine exports to China surged 98% to 5.3 million bottles in 2016. China is already Georgia's third largest export market.
Wine exports from Georgia to China are expected to rise after the two nations signed a free trade agreement (FTA). China will reduce tariffs on 93.9% of products from Georgia with effect from either later this year or early in 2018. The deal is designed to boost economic ties between the world’s second and third largest economies. This agreement is being seen as an important part of the Chinese government’s One Belt, One Road initiative to build infrastructure and connectivity in Eurasia. Georgian wine exports to China surged 98% to 5.3 million bottles in 2016. China is already Georgia's third largest export market.