HK-Georgia Trade Pact To Take Effect

A Free Trade Agreement between Hong Kong and Georgia will come into effect on February 13.

Signed on June 28, 2018, it is the first free trade agreement Hong Kong has signed with a Caucasus country.

Secretary for Commerce & Economic Development Edward Yau said: "With Georgia being a gateway to the Caucasus, this agreement not only enhances trade and investment flows between Hong Kong and Georgia, but also paves the way for the business community to tap into opportunities in the Caucasus under the Belt & Road Initiative."

The agreement covers areas including trade in goods and services, investment, and settlement mechanisms.

On the issue of trade in goods originating from Hong Kong, Georgia will abolish import tariffs on about 96% of its tariff lines.

For trade in services, commitments made by Georgia cover sectors including financial services, telecommunications services, various business services, wholesale and retailing services, arbitration services, audio-visual services, construction and related engineering services, environmental services, various transport services and printing and publishing services.

On the investment side, Hong Kong investors will have safeguards that are no less favourable than those enjoyed by Georgian investors.

Click here for more information on the agreement.