The Law Society signed two Memorandum of Understandings (“MoUs”) with the Georgian Bar Association and the Bar Association of Slovenia respectively on 1 December at the occasion of the Paris Bar Opening of the Legal Year 2017.
Georgia, an emerging market with potential for further growth, is located at the junction of Western Asia and Eastern Europe. According to a research, its logistics economy is transit-oriented: around 60% of all types of overland international freight throughput are in transit. Furthermore, Georgia has signed free trade agreements (“FTA”) with many of its neighbours such as Ukarine, Belarus, Azerbaijan, Armenia, Russia, Moldova, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, Turkmenistan and Turkey. Hong Kong is also negotiating an FTA with Georgia.
Hong Kong plays an important role as a “super-connector” between Slovenia and Mainland China. Just at the beginning of April, Hong Kong had signed a MoU with Slovenia on co-operation in wine-related businesses. Slovenian businesses in all sectors can start making use of the unique advantages of Hong Kong to extend their businesses to the Far East like the wine industry.
The signing of the MoUs with the two organisations not only provide an opportunity to formalize our commitments to collaborate and support each other, it will also generate international opportunities to our members to fully participate in and capitalise on the opportunities brought by the Belt and Road Initiatives in these two countries.