President: Georgia can overcome existing economic challenges

The Georgian economy and business sphere is faced with many challenges but the country’s enduring efforts are putting the country on the right path to succeed on a global scale, stated the Georgian President at a special meeting with about 100 American business officials today.

The Georgian leader addressed about 100 representatives of member companies of the American Chamber of Commerce at the Tbilisi Marriott Hotel today. He spoke about the country’s economic trends and challenges, economic and political relations with Russia and the outcome of the recent NATO Wales Summit.

Margvelashvili said Georgia was on a positive path and the Government and ruling Georgian Dream (GD) coalition had identified and economic development policy and considered it as the right way to overcome existing challenges.

"Signing the Association Agreement with the European Union is a crucially important step for Georgia’s European development and advancement of the economy. With this, the world’s largest market has opened for our country and investors,” he said.

"Challenges exist and one of the main ones is approaching European standards in doing business. I think will be able to overcome [these challenges] because Georgian business is quite flexible and open to the European market,” Margvelashvili noted.

In his speech the President also talked about the importance of continuing economic projects which were established under the previous government. He especially stressed the significance of the Baku-Tbilisi-Kars railway project.

Margvelashvili also spoke about regional security and said implementing more energy projects would largely reinforce the security of the region.

The President said when it came to doing business in Georgia, the country was open to investors. He noted several reasons why this would be beneficial for everyone involved, such as no corruption and simplified services.

Meanwhile after his speech, the President hosted a question and answer session with the American guests.

The event was attended by US Ambassador to Georgia Richard Norland, who was the honorary president of the American Chamber of Commerce in Georgia.

The American Chamber of Commerce in Georgia established 15 years ago and comprised of more than 160 English, American and international companies and investors.