Georgian Economy Minister: ‘Free trade – best way to deepen economic relations between Georgia, US’
The minister talked about free trade opportunities between Georgia, the US at the session ‘Trade and Commerce: Regional Hub for Economic Growth’. Photo: Ministry of Economy.
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Georgian Economy Minister Natia Turnava stated at the 3rd annual US-Georgia strategic partnership conference in Washington D.C. that a free trade agreement between Georgia and the US is the best way to deepen economic cooperation between the countries.
Turnava talked about free trade opportunities at the session ‘Trade and Commerce: Regional Hub for Economic Growth’ which was held as part of the conference on June 13.
Georgia raised the issue of signing a free trade deal with the US in 2018, claiming that it would significantly increase the export value of both countries, promote investments and facilitate the creation of new jobs.
Georgian minister talked about free trade opportunities at the session ‘Trade and Commerce: Regional Hub for Economic Growth’. Photo: Ministry of Economy.
Meanwhile, yesterday the US Department of Commerce and the Georgian Ministry of Economy signed a memorandum of understanding on cooperation to enhance bilateral trade relations.
Turnava used the platform of the conference and stated that Georgia is a small, but attractive country for international trade. She said that Georgia has an open and liberal market for investment and enjoys a strategic geographic location.
Turnava also talked about the bilateral trade dynamic and said that trade turnover between Georgia and the US increased by 33 per cent in 2018 and reached $520 million. She said that despite the positive dynamic, this result is not enough and “we are interested in maximalising the potential of trade and investment with the US”.
Georgian delegation at the meeting with members of the borad of directors of the Exim Bank. Photo: Ministry of Economy.
While in the US, Turnava also met with a member of the board of directors of the Export–Import Bank of the US, Judith Pryor. Turnava and Pryor discussed the potential of cooperation in different fields of economy: real estate, hospitality, business process outsourcing and production.
The United States Department of Commerce and the Georgian Ministry of Economy and Sustainable Development signed a memorandum of understanding on cooperation to enhance bilateral trade relations. The document was signed after the meeting between the Georgian Prime Minister Mamuka Bakhtadze and the US Secretary of Commerce Wilbur Ross.
Georgian Prime Minister Mamuka Bakhtadze said at the 3rd annual US-Georgia strategic partnership conference in Washington DC that the American nation “has stood with Georgia” since the country's independence. PM Bakhtadze expressed his commitment to further strengthen the US-Georgia strategic and military partnership by expanding economic ties between the two nations.
Georgia and the United States (US) will work actively on launching a free trade agreement in 2019, says Georgian Economy Minister Giorgi Kobulia.
Free trade deal with the US would mean not only recognising Georgia’s economic potential but also a political step, Prime Minister of Georgia Mamuka Bakhtadze told Imedi TV speaking from New York and assessing his first visit to the US.
Georgian Prime Minister Mamuka Bakhtadze has been granted the status of honorary citizen of Dallas. Mamuka Bakhtadze thanked the Mayors of Dallas for the award and the State of Texas for hospitality. He said receiving this award is very emotional for him and that it mainly belongs to his people.
Georgian Prime Minister Giorgi Gakharia said a possible free trade agreement between the United States and Georgia would be a “logical continuation” of the partnership. One of the world's leading publications, the Financial Times, has released an article on the importance of a free trade agreement between the United States and Georgia.