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Georgian PM hails CIIE's role in enhancing trade partnership with China

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Georgian PM hails CIIE's role in enhancing trade partnership with China

2025-11-06 16:24 Last Updated At:18:27

Georgian Prime Minister Irakli Kobakhidze on Wednesday said the China International Import Expo (CIIE), the world's first national-level exposition dedicated to imports, plays a very important role in enhancing the economic and trade partnership between his country and China.

Georgia is one of the guest countries of honor for this year's eighth CIIE in Shanghai. Kobakhidze was invited to deliver a speech at the opening ceremony on Wednesday, in which he conveyed Georgia's commitment to enhancing cooperation with China.

"I would like to thank our Chinese friends for excellent arrangement of the event. I attended the opening ceremony and it was a great privilege to be invited as a special guest to this forum. And of course, we have a general message that we are very open and enthusiastic to promote cooperation with China. It's the crucial priority for Georgia. And of course, the participation in this forum offers another opportunity for us to exchange our views, to present our ideas and to exchange the ideas, so it's a very important event for us," Kobakhidze said in an interview with China Media Group in the city.

At this year's expo, Georgia is showcasing a wide array of products, including wines. The prime minister said he was delighted to see the growing trade and people-to-people exchanges between Georgia and China.

"We try to show our best to the audience. And Georgia is famous [for] different type of products, and wine is one of the key products. We are also exporting to different countries and we are happy that wine exports are growing also to China. We are also happy that so many Chinese tourists are coming to Georgia, and these numbers are growing and growing. I think that Georgia will become even more interesting destination for more Chinese tourists in the future," said Kobakhidze.

More than 40 leading companies from Georgia have taken part in this year's expo. Kobakhidze believes that platforms like the CIIE will continue to play a vital role in boosting trade relations between Georgia and China.

"This is a very important forum and the statistics also show that we have permanently growing numbers in all the different areas when it comes to the imports and exports. But of course, this kind of forum also contributes a lot to the increased partnership, trade partnership, economic partnership between the two countries, and we would like to take advantage of these opportunities in the future," he said.

With the theme "New Era, Shared Future," the CIIE this year has attracted 4,108 overseas exhibitors from 155 countries, regions, and international organizations -- with the total exhibition area exceeding 430,000 square meters.

Running through Nov 10, the event will see the debut of 461 new products, technologies and services.

Georgian PM hails CIIE's role in enhancing trade partnership with China

Georgian PM hails CIIE's role in enhancing trade partnership with China

The restricted navigation through the Strait of Hormuz has triggered significant disruptions across the international shipping sector, driving up shipping costs and legal pressures related to shipping.

Iran has restricted navigation through the Strait of Hormuz, a vital strategic waterway linking the Persian Gulf to the Indian Ocean, as part of its response to U.S. and Israeli military attacks that started on Feb 28.

The partial blockade of this vital global energy route has not only impacted global energy supplies but also caused a ripple effect on energy trading, shipping operations, and the insurance market.

Wai Yue Loh, partner of DAC Beachcroft, and a specialist in shipping, trade, commodities and insurance law said he has been dealing with questions from shipping clients after the conflict in Iran broke out.

He said the commodities traders bear the brunt of Strait of Hormuz crisis and explained the interconnected vulnerabilities across the three industries most affected.

"It's easy to forget that the first industry directly affected would be the commodities traders who are buying and reselling crude oil coming out from the Middle East. Crude oil cargoes from this region account for about 25 percent or more of the world's crude oil supplies. The second industry affected would be the shipowners or the ship operators whose ships are chartered by these commodities traders, in simple terms hired by these commodity traders, to carry these cargoes from the Persian Gulf to refineries around the world for refining. These refined products are then on-sold to other buyers worldwide. The third would be the insurance industry that provides, amongst other things, war risk cover for ships that are trading globally," he said.

With the rising risks of war, shipping companies face not only security challenges but also complex legal issues such as rising insurance costs, increased uncertainty in contract performance, and the apportionment of liability, he added.

Hormuz Strait crisis delivers severe blow to global shipping industry

Hormuz Strait crisis delivers severe blow to global shipping industry

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