Economy Minister at meeting with US Ambassador:
'US is second largest investor in Georgia'

Investments from the United States have increased 34 per cent in the first quarter of 2020 and the US has become the second largest investor of Georgia with a 17 per cent share, announced the Georgian Minister of Economy after a meeting with US Ambassador to Georgia Kelly Degnan.

Turnava said that the US has always been and still remains the 'most important strategic partner' of Georgia and noted that despite the Covid-19 pandemic, the volume of investments from the US has increased.

Turnava and Degnan discussed trade and economic relations between the countries. They also talked about two postponed meetings due to the coronavirus pandemic and noted that the meetings should be held in the future.

One was a meeting of the Charter Commission’s Economic, Trade and Energy Working Group that was scheduled for May 18, 2020 and the other was the US Trade Representative mission visit to Georgia scheduled for June 2020. 

In addition Turnava and Degnan discussed the so-called High Level Trade and Investment Dialogue meeting that was also planned to be held. 

At the meeting Turnava said that Georgia is ready to be actively involved in the Economic Prosperity Network initiative announced by the US President in the spring of this year. 

The network will further deepen economic cooperation, which includes the recovery of the global economy in the areas of digital business, energy, infrastructure, trade, education or research...this will include representatives of private companies and civil society from various countries", says the Ministry of Economy.

Tunava also briefed Degnan on a package of legislative changes in terms of working conditions and rights, which includes a bill on labour inspection and the establishment of an independent Labour Inspection Service in Georgia.