Georgia and Iran to develop trade corridor

Georgia and Iran are taking actions to carry forward millennia-old relations by forging closer ties in trade, business and economy.

Trade volume between Georgia and Iran increased by 50 percent during the first two months of 2017 and Georgia’s Foreign Minister Mikheil Janelidze believes there is bigger potential to further increase trade relations and turnover.

The optimistic expectations came after Janelidze’s meeting with his Iranian counterpart Mohammad Javad Zarif who is visiting Georgia on April 17-18.

With the FM of #Iran@JZarif talked about the development of #Europe#Asia trade & transit corridor via #Georgiapic.twitter.com/Rk0SgpTWpv

— Mikheil Janelidze (@JanelidzeMkh) April 18, 2017

Developing a trade and transit corridor between the countries was one of the most important topics of discussion at the meeting.

We have discussed many aspects of cooperation today. I would like to emphasise the commercial-economic field where bilateral trade has increased by 50 percent, but in general the potential is big and we have agreed to intensively continue working in this respect,” said Janelidze.

The Minister explained the number of Iranian investments increased by 90 percent in Georgia last year due to the country’s favourable business and investment environment. As an example of successful bilateral cooperation Janelidze named the Supsa Oil Enterprise project that was launched last year.

A Georgian-Iranian Business Forum will be held in Tbilisi today where Iranian investors will be have the opportunity to learn more about Georgia’s business environment.