Georgia, Spain signs economic agreement
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Making investments and launching economic projects between Spain and Georgia will soon become easier.
The countries have signed a document to create a joint economic committee, which will work to improve economic relations between the two countries. The committee was expected to remove technical barriers from the trade between Georgia and Spain.
The agreement was signed today by Georgia’s Economic Minister Giorgi Kvirikasgvili and Spain’s Secretary of State for Trade Jaime García-Legaz.
"It [the agreement] will open the Georgian market to Spanish products and services,” Kvirikashvili said, adding Spain was a good economic and political partner for Georgia.
The sides also agreed to organise a joint business forum before Georgia signed the Association Agreement with the European Union this summer.
"We will work with our local businessmen beforehand and the Spanish side will do the same in an attempt to achieve concrete results after the forum,” Kvirikashvili said.
Spanish water management company Aqualia has invested $180 million by purchasing 80 percent of Georgian Water and Power, a leading company on the water supply market of Georgia and South Caucasus.