September 08, 2017

Georgia's wine trade benefits from FTZ deal

The Georgia Government collaborated with Waigaoqiao Wine Exhibition and Trade Center to launch a “Silk Road Online” wine sales platform recently in Shanghai Free Trade Zone.

The platform connects international trade and e-commerce, and provides counseling services for Belt and Road countries. On the day of its launch, the platform handled a deal for 300,000 bottles of Georgian wine.

The Sino-Georgia Free Trade Agreement was signed in May this year and will eradicate tariffs on Georgian wine by the end of 2017. The agreement was the first that China signed with Eurasian countries which play an important role in promoting the Belt and Road Initiative economic zone and strategic FTZ plans.

Prior to the agreement, Georgia distributed 40 percent of its wine trade volume to FTZ to explore the Chinese market. The agreement enables Georgia to further develop the Chinese market for its wines, increases the variety of wines available, and benefits Chinese consumers with cheaper prices.

Shanghai FTZ will introduce a series of preferential policies like the Sino-Georgia agreement to further benefit businesses in the FTZ. These will include new media promotions, inspection counters and facilitated certification procedures.