Due to its geographical position, Georgia
has a long tradition in developing import and export operations
. The country is located between the Western and the Eastern worlds, and has important terrestrial roads and well as maritime routes. Georgia
has had over the year numerous types of investment policies
that aimed at attracting foreign investors, but in the last decade the country has become a central point of interest for foreign businessmen due to very attractive tax policies and relaxed investment requirements.
At the moment, the country enjoys from a liberal market and has a stable financial development, these being factors that have helped the development of import-export activities
as well. Our specialists in company formation in Georgia
can give you complete information about the special approvals, permits and licenses that you will need in order to engage in trade activities in Georgia
. Our team
can also help you open a company in Georgia
Exports from Georgia
is a country that bases a large portion of its internal production on the cultivation of agricultural products
like various fruits (grapes, citrus fruits, hazelnuts), the production of alcoholic and non-alcoholic beverages and in mining activities. Some of the main goods exported from Georgia
are nuts, vehicles, wine, fruits, scrap metal and copper.
Georgia is an important and successful exporter. The country exports a wide category of agricultural products and foodstuffs. The National Statistics Office of Georgia recently published the data available for the last five years of trade. According to the data gathered by the institution, the value of the trade in and from Georgia increased over the years. For example, in 2011, the export stood at $2.186 billion and in 2014, it increased to $ 2.860 billion. With regards to exports from Georgia, in the period of January- July 2015, the total value was of $1.268 billion.
Some of the country’s main trading partners (in 2015 and in the previous years as well) were Russia and Ukraine, Turkey, Azerbaijan and Armenia. One of the products that is exported from Georgia that has a high demand on foreign markets, including in the United States of America, is ferroalloy.
Opportunities for development in Georgia
Wine, hazelnuts, mineral water and, more recently, honey, are types of exported products
for which Georgia
has a small export share
but which have a very high demand on the foreign market. Investments in agriculture for these products and many others are a good option for foreign investments in the country. If you want to open a company in Georgia
in the agricultural sector, we invite you to address to our team for legal advice
on the particularities of the company type.
The demand for these foodstuffs is high because neighboring countries have a deficit. Mineral water is a very good example: production for mineral water could be increased with investments in key areas in the industry, especially in the technology used for manufacturing this product. The top 8 products exported by Georgia
are: ores and copper concentrate, ferroalloy, cars, pharmaceuticals
, hazelnuts and other nuts, mineral fertilizer, mineral water and wine.
Imports to Georgia
With regards to imports
, it is necessary to know that the country imports
most of its supply of oil products and gas. Grains, pharmaceuticals, machinery and parts, metal construction materials, mobile and wireless devices, cigarettes
and computers are also among the products imported by Georgia
. Its main trading partners for the import
of various goods are Turkey, Azerbaijan, China, Ukraine or Germany. In 2014, Georgia’s foreign trade
increased by 5% compared to the previous year and the country and the trade volume
with the European Union increased by 2% compared to 2013.
If you want to invest in the trade sector in Georgia
, our Georgian company formation agents
can help you open a company and obtain all the necessary business permits and licenses for engaging in import and export activities
. The liberal foreign trade policy
in the country allows investors to enjoy facilitated trade regimes and customs procedures
, low import tariffs and minimal non-tariff regulations.
What are the main trading relations of Georgia in 2021?
The data concerning the volume of imports and exports in and from Georgia
is constantly updated by the National Statistics Office of Georgia
. The institution gathers information regarding the country’s top trading partners
, the countries where Georgia exports
the highest volume of products, the products that are in demand and other data that should be of concern for those who want to open a company in Georgia
in this industry. Below, you can find the latest data on this matter:
- • the top trading partners in the period of January – July 2021 were China (15.4%), Russia (14%), Azerbaijan (13%) and Turkey (8.7%) when we refer to exports;
- • for the same period, the largest Georgian exports were measured for copper ores ($391 million) and motor cars ($205.4 million);
- • the top import partners in the period of January – July 2021 were Turkey (18%), Russia (10.8%), China (8.4%) and the United States of America (6.25%);
- • the imports for the same period arriving from the EU member states accounted for 23.1%;
- • copper ores were also the leading export good of Georgia in January – July 2020, when it accounted for 22.3% of all the exports.
China – Georgia trading relationships
Chinese investors who want to establish a company in Georgia
are welcomed on this market, as the relations between the two states are becoming more and more important. Chinese businessmen are interested in investing on the Georgian market
, which has improved its investment incentives. Because the trading level
between the two states is gradually increasing, the Chinese and Georgian representatives
met in China to establish the Trading and Investment Council
The meeting between the representatives of the states started at the China - Georgian Investment Forum
, where the Georgian Minister of Economy
$7 billion investment portfolio containing various
investment projects, available for Chinese investors. It is important to know that, according to the data provided by the Minister of Economy
, Chinese companies have already invested in Georgia
in sectors such as: construction
, roads, infrastructure, energy sector and the banking sector.
China is one of the country’s main trading partner
. At the same time, China is the second largest partner when referring to exports
, as the Chinese market purchases 9% of the Georgian exports
; our team of Georgian company formation agents
can offer more details on the trading activities
What is the law on imports and exports in Georgia?
The legislation regulating trading across border in Georgia
is given by numerous legal acts, that can vary depending on the goods that are imported or exported
. Investors who will want to open a company in Georgia
dealing with the import or export of goods
will have to follow the Law of Georgia on the Export and Import of Cultural Valuables From and To Georgia
, in the case in which their business activity deals with cultural valuables and other cultural goods.
This law is based on the Georgian Constitution, as well as international treaties to which Georgia adhered to. Cultural valuables can refer to a wide range of patrimony products, such as archeological products, literature, art, and any other products that are part of the national heritage of the country. In this particular situation, very stringent rules will apply.
Another law regarding import or export is given by the Law of Georgia on Import, Export and Transit of Waste. The law is founded based on the Basel Convention. The legislation stipulates what type of waste can be exported or imported and, more importantly, the procedures that should be respected by all parties involved.
Besides this, the law clearly mentions the type of waste that is forbidden to be deposited on the Georgian territory. Amongst other laws investors should take into consideration we mention the ones referring to the rights and obligations of the Customs Duty and the law regarding customs tariffs.
These two should be thoroughly studied by foreign investors and local investors alike, as they prescribe the legal framework that is applied by the Customs Duty
, its responsibilities and the procedures it will follow, but also the obligations of importers and exporters
. Depending on the case, the Customs Duty
will apply various taxes
– for instance, the customs duty
can be charged at a rate of minimum 5% to a maximum 12%.
Our team of consultants in company registration in Georgia
can offer more details on the customs duty
that you will have to pay as a foreign company trading goods
in this country. For more details on the documents that are required for import-export operations
, we highly recommend you to address to our specialists
Investment projects between China and Georgia
One of the most important projects between the two states, Free Trade, began in 2015. The Trading and Investment Council aims at exchanging information on the Chinese and Georgian investors and businesses. Another important project for the two states is the “One Belt, One Road”, which refers at the development project that will rebuilt the historic Silk Road.
If you want to start the process of company formation in Georgia
in this industry, we highly advise you to receive legal representation, due to the fact that the permits
needed can vary based on the type of products you will import/export
, but the trading procedures
can also vary, in the sense that you may need to pay certain taxes and to provide an extensive file of attesting documents.
For more details, our team of consultants in company registration in Georgia
remains at your disposal and it is ready to assist you with any type of information that you may be interested in. Our team
will help you open a company in Georgia
and will also provide legal assistance in the process of registering for tax purposes.