The Korea Herald: “Korea-Georgia FTA, way forward to win-win diplomacy: deputy minister”

The Korea Herald on Tuesday published an interview with the Georgian Deputy Economy Minister Genadi Arveladze on prospects of a free trade agreement between South Korea and Georgia and benefits the deal would bring the two countries. 

The agreement would not only help expand trade and investment but also provide a comprehensive institutional framework for a wide range of bilateral cooperation [...] Negotiations will start in the first quarter of 2024”, Arveladze told the outlet.

Asked by journalist Sanjay Kumar about feasibility study results for the agreement, the Deputy Minister said the results showed “mutual advantages”, stressing the current $100 million in bilateral trade as “just the tip of the iceberg”.

Arveladze said Korean businesses should tap into Central Asian and European markets, leveraging Georgia’s strategic location for the country’s status a “pivotal hub” for trade, logistics, transportation and energy in the Black Sea region, an outcome driven by the Ukraine conflict.

He said Georgia would welcome South Korean investors in greenfield projects to support utilisation of renewable energy, development of transport and logistics services, as well as new technologies.

Tarash Papaskua, the Georgian Ambassador to Korea who accompanied Arveladze during the interview, said the Korean Government had officially decided to open its Embassy in Georgia next year.

Arveladze also highlighted Georgia’s tourism potential, highlighting the visit of more than 11,000 travellers from Korea in the first nine months of this year, in the discussion.

Read the full interview here.