KUALA LUMPUR: Georgia, a Republic in South Caucasus located at the intersection of Europe and Asia, is keen on establishing an Free Trade Agreement (FTA) with Malaysia, as there are huge growth potentials in many areas between the two countries.
Georgian Ambassador to Malaysia Nikoloz Apkhazava said Georgia has one of the most liberal foreign trade policies in the world that implies facilitated foreign trade regime and customs procedures, low import tariffs and minimal non-tariff regulations.
"We have established an embassy in Malaysia and we are taking positive steps to enhance trade and investment, tourism and also in other areas between Malaysia
and Georgia," he told NST Business in an interview recently.
He said Georgia's integration into the world’s leading markets is one of the top foreign policy priority.
The country enjoys free trade regimes with the European Union (EU), Turkey and the Commonwealth of Independent States (CIS) countries, European Free Trade Association (EFTA) and China.
"With these positive areas in trade, Georgia has excess to more than two billion customer market," Apkhazava said adding the country has a well-developed logistical and railway system to transport goods across its borders.
Georgia established a FTA with Hong Kong in June this year, signed at the Belt and Road Summit 2018, signalling the importance of intensifying inter-regional trade.
The country strives to become a key component in Belt and Road initiative and with major investments in its port infrastructure and industrial capacity will make the
country more attractive as a gateway between East and West.
Tourism, manufacturing, energy and transport are the key sectors the country is pushing for investments, the Ambassador pointed out.
"I have been meeting with people from Khazanah Nasional Bhd and Tenaga Nasional Bhd (TNB) on various business potentials, especially in the areas of investments and energy," Apkhazava said adding that outcome of these meetings are quite promising.
"We will also engage with Khazanah and TNB representatives in Turkey to talk about our new potential business opportunities," he said.
Apkhazava strongly encourage the Malaysian Foreign Ministry to setup an embassy in Georgia as currently, all affairs between Malaysia and Georgia are handled by the Malaysian embassy in Ukraine.