Ask anyone about the South Caucasus Country of Georgia and everybody will tell you about one of the safest, least corrupted, growing economy and fast developing country. Since more than 10 years, Georgia has become a trending investment destination for many country’s investors.
In recent years,Georgia has become a strategic partner of China, as their relationship deepened dramatically. The Foreign Direct investment from China is increasing every year as numbers of Chinese companies now have major operations in Georgia, including the Hualing Group, Georgia’s single largest foreign investor, which invested approximately 500 Million USD in seven major projects. Apart from Hualing Group, a telecommunication company ZTE Corporation and Huawei Technology Company Ltd have been present on the Georgian market.
On 28th of November 2017, Georgia hosted the 2nd Silk Road Forum, attended by around 2000 honourable guests from all over the world. China keeps investing approximately 40 $ Billion into revitalizing the trade route - One Belt One Road (OBOR), from which many years ago, loaded caravans with silk and spices travelled to Europe and British isles. This Chinese initiative can be perceived as the new global position of the country, as it aims to affect 4 Billion people in Asia, Africa and Europe.What’s in it for Georgia? - The geopolitical significance and favorable geographical location of Georgia in the light of OBOR initiative puts the Georgia-China cooperation on the different level. In 2002, bilateral trade was just about 10 million USD, whereas in 2014 it reached 823 million USD.
During the 2nd Silk Road Forum, as reported by the Georgian Economic Minister, Georgia will sign important agreements with China, concerning the techno parks, innovations and free trade zones. Georgia is trying to become strategic partner at the crossroad of Europe and Asia. During the forum Deputy Commerce Minister of China Qian Keming delivered his speech and said that “Georgia is the first country which has reacted to Silk Road Forum initiative and it is an important partner of China”.Keming also said that following the Silk Road aspirations, China and Georgia signed a free trade agreement coming into force in January 2017.
The 2nd Silk Road Forum, held on November 28-29, aimed to create a platform for an annual high level meeting where interested parties from all over the world could get together and find new opportunities, align visions and enhance bilateral partnerships in four main areas of cooperation: energy, transport, trade and business-to-business contacts.