Liberalization of trade in services is a top priority for Georgia, we continue to integrate into the global economy. By lowering barriers to trade in services, we give businesses greater market access and attract more investment in key sectors such as ICT, finance, logistics and tourism. This process of liberalization was facilitated by free trade agreements. They include comprehensive chapters on services, which allow strengthening cooperation and market opportunities, First Vice Prime Minister, Minister of Economy and Sustainable Development Levan Davitashvili said in his speech at the official opening of the China International Fair for Trade in Services (CIFTIS).
According to him, the current exhibition in the Chinese capital is one of the largest profile events in the world and is a good opportunity for the development of cooperation for both public and private sectors.
According to the First Vice Prime Minister, by implementing free trade agreements, which include both goods and services trade directions, the Government of Georgia promotes the creation of new jobs and sustainable economic growth in both traditional and emerging service sectors.
"These industries are the backbone of economic growth, job creation and innovation, developing global trade to shape the future. The possibilities of services are huge, starting from digital trade to tourism, and this emphasizes the important role of services in all aspects of modern life", said Levan Davitashvili.
The First Vice Prime Minister also drew attention to the importance of cooperation with China in the direction of trade in services, including within the framework of the "Belt and Road" initiative.
Levan Davitashvili attached special importance to the free trade agreement with China in 2017, which was one of the first free trade agreements between China and a country in our region.
According to him, the mentioned agreement, which significantly strengthened the trade and investment flows between the two countries, promoted cooperation in such sectors as telecommunications, financial services, tourism, etc.
"The free trade agreement is proof of the growing strategic partnership between Georgia and China, and we plan to deepen this cooperation in the future," Levan Davitashvili said.
According to the First Vice Prime Minister, Georgia has also signed free trade agreements with the European Union, the European Free Trade Association (EFTA), Turkey, Hong Kong, and the United Arab Emirates (UAE).
According to him, these agreements have expanded Georgia's access to service markets and contributed to the growth of trade in services with global partners.
According to Levan Davitashvili, the mentioned agreements represent the strategic vision of the Georgian government to become the main hub of trade in the region, especially with services that are crucial for today's digital and interconnected world.
According to Davitashvili, for this purpose, the government invests in infrastructure, innovation and education to ensure the competitiveness of the country's economy and readiness for successful participation in the global markets of the future.
According to the information provided by the Ministry of Economy and Sustainable Development, in his speech, Levan Davitashvili focused on the strategic location of Georgia, which provides an opportunity to promote international trade in services and investments.
“Given the growing need to diversify supply chains, the Middle Corridor through Georgia is increasingly recognized as a viable alternative that offers shorter travel times and wider access to different regions and markets. Georgia is implementing important infrastructure projects in all modes of transport, including the modernization of the East-West highway and railways. The development of both existing and new port infrastructure is the main priority of the government," said the First Vice Prime Minister.
He also explained that international cooperation in trade in services is now more important than ever.
"The challenges we face require us to work together, share knowledge and make decisions that benefit us all. CIFTIS offers a perfect platform for this, and Georgia is proud to be a part of this dynamic exchange," said Levan Davitashvili.
