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Georgia - Hong Kong FTA (2018)
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Article 6. Measures to Safeguard the Balance-of-Payments

1. The Parties shall endeavour to avoid the imposition of restrictions to safeguard the balance-of-payments.

2. Where a Party is in serious balance-of-payments and external financial difficulties or under threat thereof, it may:

(a) in case of trade in goods, in accordance with GATT 1994 and the Understanding on Balance- of-Payments Provisions of the General Agreement on Tariffs and Trade 1994, contained in Annex 1A to the WTO Agreement, adopt or maintain restrictive import measures;

(b) in case of trade in services, adopt or maintain restrictions on trade in services on which it has undertaken specific commitments, including on payments or transfers for transactions related to such commitments; and

(c) in case of establishment under Chapter 10 (Establishment), in accordance with paragraphs 1 to 3 of Article XII of GATS, mutatis mutandis, adopt or maintain restrictions to safeguard the balance-of-payments.

3. Restrictions adopted or ~maintained under subparagraph 2(b) shall:

(a) be consistent with the Articles of Agreement of the International Monetary Fund;

(b) avoid unnecessary damage to the commercial, economic and financial interests of the other Party;

(c) not exceed those necessary to deal with the circumstances described in paragraph 2;

(d) be temporary and be phased out progressively as the situation specified in paragraph 2 improves; and

(e) be applied on a non-discriminatory basis such that the other Party is treated no less favourably than any non-Party.

4. In determining the incidence of the restrictions adopted or maintained under paragraph 2, the Parties may give priority to economic sectors which are more essential to their economic development. However, such restrictions shall not be adopted or maintained for the purpose of protecting a particular sector.

5. Any restrictions adopted or maintained by a Party under paragraph 2, or any changes therein, shall be notified to the other Party within 14 days after the date such measures are taken.

6. The Party adopting or maintaining any restrictions under paragraph 2 shall commence consultations with the other Party within 45 days after the date of notification in order to review the measures adopted or maintained by it.

Chapter 18. FINAL PROVISIONS

Article 1. Annexes

The Annexes to this Agreement shall constitute an integral part of this Agreement.

Article 2. Entry Into Force

The Parties shall notify each other of the completion of their internal procedures necessary for the entry into force of this Agreement. This Agreement shall enter into force 30 days after the date of receipt of the last written notification.

Article 3. Amendments

1. The Parties may agree in writing to amend this Agreement. Any amendment shall enter into force in accordance with the procedures required for the entry into force of this Agreement.

2. If any amendment is made to the WTO Agreement or any other international agreement, or a provision therein, that has been incorporated into this Agreement, the Parties shall consult each other on whether to amend this Agreement accordingly, unless otherwise provided in this Agreement.

Article 4. Termination

1. This Agreement shall remain in force unless either Party notifies the other Party in writing to terminate this Agreement. Such termination shall take effect 180 days after the date of receipt of the notification.

2. Within 30 days after a notification referred to in paragraph 1 is issued, either Party may request consultations regarding whether the termination of any provision of this Agreement should take effect on a date later than the date of termination as determined under paragraph 1. Such consultations shall commence within 30 days after the delivery of such request to the other Party and shall be completed before the date of termination as determined under paragraph 1.

Conclusion

In WITNESS WHEREOF, the undersigned, being duly authorised by their respective Governments, have signed this Agreement.

Done in duplicate at Hong Kong on the 28th day of June 2018 in the English language.

For the Government of Georgia

GENADI ARVELADZE

Deputy Minister of Economy and Sustainable Development of Georgia

For the Government of the Hong Kong Special Administrative Region of the People's Republic of China

EDWARD YAU TANG-WAH

Secretary for Commerce and Economic Development

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  • Chapter   1 INITIAL PROVISIONS, DEFINITIONS AND INTERPRETATIONS 1
  • Article   1 Establishment of a Free Trade Area 1
  • Article   2 Relation to other Agreements 1
  • Article   3 Geographical Application 1
  • Article   4 General Definitions 1
  • Article   5 Interpretations 1
  • Chapter   2 TRADE IN GOODS 1
  • Article   1 Definition 1
  • Article   2 Scope 1
  • Article   3 National Treatment on Internal Taxation and Regulation 1
  • Article   4 Elimination of Customs Duties 1
  • Article   5 Classification of Goods 1
  • Article   6 Non-Tariff Measures 1
  • Article   7 Import Licensing 1
  • Article   8 Fees and Formalities Connected with Importation and Exportation 1
  • Article   9 Administration of Trade Regulations 1
  • Chapter   3 RULES OF ORIGIN 1
  • Section   1 Rules of Origin 1
  • Article   1 Definitions 1
  • Article   2 Originating Goods 1
  • Article   3 Goods Wholly Obtained 1
  • Article   4 Regional Value Content 1
  • Article   5 Accumulation 1
  • Article   6 Minimal Operations or Processes 1
  • Article   7 De Minimis 1
  • Article   8  Fungible Materials 1
  • Article   9 Neutral Elements 2
  • Article   10 Packing Materials, Packaging Materials and Containers 2
  • Article   11 Accessories, Spare Parts and Tools 2
  • Article   12 Sets 2
  • Article   13 Direct Consignment 2
  • Section   2 Origin Implementation Procedures 2
  • Article   14 Certificate of Origin 2
  • Article   15 Retention of Origin Documents 2
  • Article   16 Obligations Regarding Importations 2
  • Article   17 Refund of Import Customs Duties or Deposit 2
  • Article   18 Waiver of Certificate of Origin 2
  • Article   19 Verification of Origin 2
  • Article   20 Denial of Preferential Tariff Treatment 2
  • Article   21 Electronic Origin Data Exchange System 2
  • Article   22 Contact Points 2
  • Chapter   4 CUSTOMS PROCEDURES AND TRADE FACILITATION 2
  • Article   1 Definitions 2
  • Article   2 Scope and Objectives 2
  • Article   3 Facilitation 2
  • Article   4 Transparency 2
  • Article   5 Customs Valuation 2
  • Article   6 Tariff Classification 2
  • Article   7 Cooperation 2
  • Article   8 Advance Rulings 2
  • Article   9 Review and Appeal 2
  • Article   10 Application of Information Technology 2
  • Article   11 Risk Management 2
  • Article   12 Release of Goods 2
  • Article   13 Perishable Goods 3
  • Article   14 Authorised Economic Operator 3
  • Article   15 Border Agency Cooperation 3
  • Article   16 Consultations 3
  • Chapter   5 TECHNICAL BARRIERS TO TRADE 3
  • Article   1 Definitions 3
  • Article   2 Objectives 3
  • Article   3 Scope 3
  • Article   4 Affirmation of the TBT Agreement 3
  • Article   5 Technical Regulations (1) 3
  • Article   6 International Standards 3
  • Article   7 Conformity Assessment Procedures 3
  • Article   8 Transparency 3
  • Article   9 Technical Consultations 3
  • Article   10 Cooperation 3
  • Article   11 Contact Points 3
  • Chapter   6 SANITARY AND PHYTOSANITARY MEASURES 3
  • Article   1 Definitions 3
  • Article   2 Objectives 3
  • Article   3 Scope 3
  • Article   4 Affirmation of the SPS Agreement 3
  • Article   5 Risk Assessment 3
  • Article   6 Harmonisation 3
  • Article   7 Regionalisation 3
  • Article   8 Equivalence 3
  • Article   9 Transparency 3
  • Article   10 Technical Cooperation 3
  • Article   11 Contact Points 3
  • Chapter   7 TRADE REMEDIES 3
  • Article   1 Definition 3
  • Article   2 Anti-dumping 3
  • Article   3 Subsidies and Countervailing Measures 3
  • Article   4 Global Safeguard Measures 3
  • Chapter   8 TRADE IN SERVICES 3
  • Part   I DEFINITIONS AND SCOPE 3
  • Article   1 Definitions 3
  • Article   2 Scope 4
  • Part   II GENERAL OBLIGATIONS AND DISCIPLINES 4
  • Article   3 Scheduling of Specific Commitments 4
  • Article   4 National Treatment 4
  • Article   5 Market Access 4
  • Article   6 Most-Favoured-Nation Treatment 4
  • Article   7 Additional Commitments 4
  • Part   III OTHER PROVISIONS 4
  • Article   8 Domestic Regulation 4
  • Article   9 Recognition 4
  • Article   10 Qualifications Recognition Cooperation 4
  • Article   11 Payments and Transfers 4
  • Article   12 Denial of Benefits 4
  • Article   13 Transparency 4
  • Article   14 Subsidies 4
  • Article   15 Monopolies and Exclusive Service Suppliers 4
  • Article   16 Miscellaneous Provisions 4
  • Article   17 Modification of Schedules 4
  • Article   18 Contact Points 4
  • Article   19 Review 4
  • Chapter   9 ELECTRONIC COMMERCE 4
  • Article   1 General 4
  • Article   2 Cooperation on Electronic Commerce 4
  • Chapter   10 ESTABLISHMENT 4
  • Article   1 Definitions 4
  • Article   2 Scope and Coverage (7) 4
  • Article   3 National Treatment 5
  • Article   4 Reservations 5
  • Article   5 Key Personnel 5
  • Article   6 Right to Regulate 5
  • Article   7 Transparency 5
  • Article   8 Payments and Transfers 5
  • Article   9 Review 5
  • ANNEX 10-1  HONG KONG, CHINA’S SCHEDULE OF RESERVATIONS 5
  • ANNEX 10-1  GEORGIA’S SCHEDULE OF RESERVATIONS 5
  • Chapter   11 INTELLECTUAL PROPERTY 6
  • Article   1 Definitions 6
  • Article   2 Purpose and Principles 6
  • Article   3 Obligations Are Minimum Obligations 6
  • Article   4 International Agreements 6
  • Article   5 Intellectual Property and Public Health 6
  • Article   6 Exhaustion 6
  • Article   7 Procedures on Acquisition and Maintenance 6
  • Article   8 Patentable Subject Matter 6
  • Article   9 Amendments, Corrections and Observations on Patent Applications 6
  • Article   10 Transparency 6
  • Article   11 Types of Signs as Trade Marks 6
  • Article   12 Well-Known Trade Marks 6
  • Article   13 Geographical Indications 6
  • Article   14 Plant Breeders' Rights 6
  • Article   15 Collective Management of Copyright 6
  • Article   16 Genetic Resources, Traditional Knowledge and Folklore 6
  • Article   17 Enforcement 6
  • Article   18 Cooperation - General 6
  • Article   19 Communications 6
  • Chapter   12 COMPETITION 6
  • Article   1 Definitions 6
  • Article   2 Objectives 6
  • Article   3 Competition Laws and Authorities 6
  • Article   4 Principles of Law Enforcement 6
  • Article   5 Transparency 6
  • Article   6 Cooperation 6
  • Article   7 Confidentiality of Information 6
  • Article   8 Technical Cooperation 6
  • Article   9 Independence of Competition Authorities 6
  • Article   10 Non-Application of Dispute Settlement 6
  • Article   11 Consultations 6
  • Chapter   13 ENVIRONMENT AND TRADE 6
  • Article   1 Levels of Protection 6
  • Article   2 Environmental Laws and Regulations 6
  • Article   3 Enforcement 6
  • Article   4 Multilateral Environmental Agreements 6
  • Article   5 Review of Environmental Impact 6
  • Article   6 Cooperation 6
  • Article   7 Non-Application of Dispute Settlement 6
  • Chapter   14 TRANSPARENCY 6
  • Article   1 Publication 6
  • Article   2 Notification and Provision of Information 6
  • Chapter   15 INSTITUTIONAL PROVISIONS 6
  • Article   1 Establishment of the FTA Joint Commission 6
  • Article   2 Functions of the FTA Joint Commission 6
  • Article   3 Rules of Procedure of the FTA Joint Commission 7
  • Article   4 Contact Point 7
  • Chapter   16 DISPUTE SETTLEMENT 7
  • Article   1 Cooperation 7
  • Article   2 Scope of Application 7
  • Article   3 Choice of Forum 7
  • Article   4 Consultations 7
  • Article   5 Good Offices, Conciliation or Mediation 7
  • Article   6 Establishment of Arbitral Tribunal 7
  • Article   7 Composition of Arbitral Tribunal 7
  • Article   8 Function of Arbitral Tribunal 7
  • Article   9 Rules of Procedure of Arbitral Tribunal 7
  • Article   10 Suspension or Termination of Proceedings 7
  • Article   11 Reports of Arbitral Tribunal 7
  • Article   12 Implementation of Arbitral Tribunal's Final Report 7
  • Article   13 Reasonable Period of Time 7
  • Article   14 Compliance Review 7
  • Article   15 Suspension of Concessions or other Obligations 7
  • Article   16 Post Suspension 7
  • Article   17 Private Rights 7
  • ANNEX 16-1  RULES OF PROCEDURE OF ARBITRAL TRIBUNAL 7
  • Chapter   17 GENERAL PROVISIONS AND EXCEPTIONS 7
  • Article   1 Disclosure and Confidentiality of Information 7
  • Article   2 General Exceptions 7
  • Article   3 Security Exceptions 7
  • Article   4 Taxation 7
  • Article   5 Review of Agreement 7
  • Article   6 Measures to Safeguard the Balance-of-Payments 8
  • Chapter   18 FINAL PROVISIONS 8
  • Article   1 Annexes 8
  • Article   2 Entry Into Force 8
  • Article   3 Amendments 8
  • Article   4 Termination 8
    • Name
    Georgia - Hong Kong FTA (2018)
    PDF Link
    Georgia - Hong Kong FTA (2018)
    Signed date
    28 / Jun / 2018
    Date into force
    13 / Feb / 2019
    Treaty type
    Other International Investment Agreements
    Origin language
    en
    Party ISO codes
    GEO,HKG
    Relationship with other documents
    Type Agreements Date of signature Date of entry in force
    IT_OVERLAP Investment Facilitation for Development (2024)
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    Original PDF
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