Off the wire
• Roundup: Three scientists share 2016 Nobel Prize in chemistry  • 2nd LD: Ethiopia, Djibouti launch Africa's first modern electrified railway  • 1st LD: Israeli war jets strike Gaza in response to rocket firing  • UAE's Etihad in talks with Germany's TUI to create new airline  • China Focus: Can home purchase restrictions stop surging prices?  • Urgent: Casualties feared as blast rocks Kabul  • 1st LD: Ethiopia, Djibouti launch Africa's first modern electrified railway  • No commercial trade in lion bones from Namibia  • Israeli war jets strike Gaza in response to rocket firing  • (Recast) Urgent: Israeli war jets strike Gaza in response to rocket firing  
You are here: 　 Home

China, Georgia conclude FTA substantive negotiations

Xinhua, October 5, 2016 Adjust font size:

China and Georgia have finished substantive negotiations on a bilateral free trade agreement (FTA), according to the Ministry of Commerce (MOC) on Wednesday.

The MOC and Georgia's Ministry of Economy and Sustainable Development signed a memorandum of understanding to mark the conclusion of China's first FTA substantive negotiations in Eurasia.

The FTA negotiations started in December 2015, and underwent three official negotiations and three informal consultations. The two parties have agreed zero tariff for most of the commodity trade, pledged to open many markets in the service sector, improved trade rules and identified key areas for enhanced cooperation.

The agreement covers 17 fields including commodity trade, service trade, intellectual property and emerging issues like e-commerce.

The FTA, comprehensive and balanced, is expected to boost bilateral economic and trade ties and promote the implementation of the Belt and Road Initiative, according to MOC.

The FTA still has to go through a series of procedures like legal review, translation and official signature. Endi