Georgia also has a free trade agreement with the Republic of China (including Hong Kong). Georgia is one of Hong Kong`s main trading partners in the Caucasus. Total merchandise trade between Hong Kong and Georgia amounted to HK257 million in 2019. In 2019, Georgia ranked 123rd among Hong Kong`s global trading partners in merchandise trade. In contrast, Hong Kong finished 26th in 2018 among Georgia`s trading partners in merchandise trade. In 2003, the Central Government of China signed the Closer Economic Partnership Agreement (CEPA) with the Hong Kong Special Administrative Region Government and the Macao Special Administrative Region Government. Supplements I, II, III, IV, V and VI were signed in 2004, 2005, 2006, 2007, 2008 and 2009. The EPA is a successful application of the One Country, Two Systems principle, a new path for institutional cooperation between the mainland and Hong Kong and Macao and an important step in economic and trade exchanges and cooperation between the mainland and Hong Kong and Macao. It is a free trade agreement signed by the central government with the various customs territories of Hong Kong and Macao and the first fully implemented free trade agreement in mainland China. Georgia`s liberal trade regimes provide investors with a good opportunity to access not only the country`s 3.7 million people, but also markets across the region, largely due to the absence of tariffs and import duties. To date, Georgia has signed free trade agreements with CIS countries, including Ukraine, Belarus, Moldova, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan and Turkmenistan, as well as its neighbours Turkey, Azerbaijan and Armenia.
The Association Agreement (“AA”) with the EU was signed and ratified in 2014, including the Comprehensive and Comprehensive Free Trade Agreement (“ACFTA”). In addition, on 27 June 2016, Georgia signed a free trade agreement with EFTA countries, which allows Georgian products duty-free access to the markets of Iceland, Liechtenstein, Norway and Switzerland. The two nations co-exist in several international organizations. Relations between the two sides focus on economic, social and cultural aspects, as Hong Kong`s Basic Law limits the conclusion of bilateral military agreements with foreign countries.  1 Technical barriers to trade include technical rules, standards and compliance assessment procedures that may have a direct or indirect impact on merchandise trade. The free trade agreements were negotiated between them on 9 May 2016. Agreements with Georgia include, among other things, several key elements, including: (a) the removal or reduction of tariffs; (b) the liberalisation of non-tariff barriers; (c) the flexibility of rules of origin that would facilitate bilateral trade; (d) tariff facilitation procedures; (e) liberalisation and investment promotion and protection; (f) the liberalisation of trade in services and (g) legal and institutional regulation and the dispute settlement mechanism of the free trade agreement. The Hong Kong government spokesman said Georgia was an emerging market and that free trade agreements would help extend Hong Kong`s free trade agreement network to the regions concerned, including Eurasia.   The free trade agreement covers a broad scope covering trade in goods, trade in services, investment, dispute resolution mechanisms and other related areas. The free trade agreement will provide our traders and businessmen with legal certainty and better access to the Georgian market. It offers potential opportunities for access to the Caucasus, which is part of the Belt and Road Initiative, and promotes trade and investment flows between Hong Kong and Georgia and the greater Eurasia region.