Georgia announced officially its recognition of China's market economy status (MES) on Wednesday and said the Georgian government welcomed China's efforts in building up a market economy.

It said that since China entered the World Trade Organization (WTO), its trade policies have become more transparent and more consistent with international rules.

Georgia expressed its willingness to work with China to expand bilateral economic and trade cooperation on the basis of the existing friendly relations.

By now, Georgia, New Zealand, Kyrgyzstan, Republic of the Congo, South Africa, Benin, Togo and ASEAN nations have recognized China's complete market economy status.

At present, around one in every seven anti-dumping cases worldwide involves China.

The recognition of China's MES will enhance China's ability to fight against anti-dumping charges.

Dumping involves selling goods on an export market at a lower price than the same goods are sold for domestically. Currently, countries that do not recognize China's MES can use prices of third-country markets as a benchmark to compare with domestic prices in determining whether Chinese products have been dumped.

China agreed to be considered a non-market economy for 15 years in November 2001 when joining the WTO, but is seeking the MES through a special procedure.