What does Georgia offer Belarusian investors?

"Georgia is offering attractive opportunities to run European businesses, invest and implement innovative ideas.”

With these words was how Georgia’s Prime Minister Giorgi Kvirikashvili addressed members of the Belarusian business society at the Georgia-Belarus Business Forum.

The Belarusian capital Minsk hosted the international forum on March 22-23. Georgia’s PM visited Minsk to attend the Forum and the events it included.

Fifty Georgian and Belarusian businesses participated in the bilateral forum.

Speaking to participants, Kvirikashvili highlighted the advantages entrepreneurs could benefit if they invested in Georgia.

An open, transparent and inclusive business environment is at your disposal. Our easy customs and tax system, and non-corrupt Government are also part of our business-friendly environment,” Kvirikashvili said.

The Georgian high official told the Belarusian investors Georgia had agreements to avoid double taxation with 44 countries and Free Trade deals with the European Union (EU), Turkey and other countries in the Commonwealth of Independent States (CIS) – reaching markets of 800 million customers.

As of today Georgia also was negotiating with China to establish a Free Trade agreement.

Furthermore, Kvirikashvili stressed Georgia enjoyed a Generalised Scheme of Preferences (GSP) with the United States (US), Canada, Japan, Switzerland and Norway – reaching markets of 500 million customers.

Kvirikashvili announced Georgia was working on new law together with international financial corporations that focused on investor’s rights based on best international practice and recommendations.

Georgia’s state programs that supported business were introduced at the forum. As an example Kvirikashvili spoke about the ‘Produce in Georgia’ state scheme, which financed 154 projects worth totalling 375 million GEL (about $162 million/€145 million*).

The Georgian Prime Minister added local foundations such as Partnership Fund and the Co-Investment Fund would also support Belarusian investors in their activities in Georgia.

Georgia’s strategic location and its transit role was another advantage that could attract Belarusian investors, believed Kvirikashvili. He talked about the future projects that could link different countries of the region, and Asia to Europe.

These projects were the Anaklia Deep Sea Port development project, the Baku-Tbilisi-Kars Railway project, the Silk Wind Train project and the Silk Road Forum.

Kvirikashvili said Foreign Direct Investments (FDIs) were also increasing in Georgia and this contributed to a growing economy.

FDIs increased by 97 percent in 2014 compared to 2013. Preliminary data says FDIs reached $1.35 billion USD in 2015,” said Kvirikashvili.

Trade turnover between Georgia and Belarus was positive but the partnership could intensify to reach $200 million USD, believed Belarusian officials.

*Currencies are in accordance with today's National Bank of Georgia exchange rate.