New UK-Georgia Trade Hub project to increase trade, export opportunities between countries
The 'UK-Georgia Trade Hub' project is designed to unite small and medium-sized businesses interested in entering the British market and simplify for them logistical and administrative services, while helping them overcome difficulties. Photo: Embassy of Georgia to the UK.
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Georgia and the United Kingdom are launching a new project that will contribute to increasing trade and export opportunities between the countries, announces the Embassy of Georgia to the United Kingdom.
The 'UK-Georgia Trade Hub' project is designed to unite small and medium-sized businesses interested in entering the British market and simplify for them logistical and administrative services, while helping them overcome difficulties.
Ambassador of Georgia to the UK Sophie Katsarava posted on her official Twitter account that promoting trade between the UK and Georgia is one of the top priorities of the embassy:
Promoting trade between #UK & #Georgia is one of the top priorities of the embassy. Today we hosted the launch of the new UK- Georgia trade hub in #London. The hub will contribute to increasing trade & export opportunities between ???????? & ???????? pic.twitter.com/9vDIZf4a7c
— Sophie Katsarava (@SophieKatsarava) September 15, 2020
To note, the UK is one of the largest foreign direct investors in Georgia, while Georgia was one of the first countries to sign a free trade agreement with the UK after the latter decided to leave the European Union, and the majority of Georgian products are now free from any custom charges.
The agreement of strategic partnership between the UK and Georgia was signed in October of 2019 in London. The document entails partnership in various fields and, most importantly, a free trade regime between the two countries.
Foreign Secretary of the United Kingdom Dominic Raab has condemned Russia’s “unacceptable cyber-attacks against Georgia”. Calling the Russia’s military intelligence service - GRU's - "reckless and brazen campaign" of cyber attacks against Georgia "totally unacceptable", Secretary Raab said the UK will continue to counter its "menacing behaviour" together with allies.
Foreign direct investments (FDI) in Georgia amounted to $237.8 million in the second quarter of 2020, which is a 0.5 per cent increase compared to the same period of 2019, show the latest data of the National Statistics Office of Georgia (Geostat). The largest share of FDI was registered in the financial sector, reaching $78.1 million in Q2 2020, the energy sector was the second with $29.6 million, followed by the construction sector with $27.7 million.
The United Kingdom has appointed a new ambassador to Georgia.
The newly appointed Minister of State for Europe and the Americas at the Foreign and Commonwealth Office of the United Kingdom, Christopher Pincher said the UK will remain Georgia’s important ally and supporter. Minister Pincher made the remarks during a phone conversation with the Georgian Foreign Minister David Zalkaliani earlier today. Minister Zalkaliani congratulated Christopher Pincher on becoming UK’s Minister of State.
The Georgian Chamber of Commerce and Industry and the London Chamber of Commerce and Industry have signed an agreement of cooperation today which aims to strengthen business and commercial ties between the Georgian and British businesses.
UK Minister for European Neighbourhood and the Americas at the Foreign, Commonwealth and Development Office Wendy Morton has paid her first official visit to Georgia. Morton has tweeted that ‘our countries are close allies and I’m delighted that our relationship is going from strength to strength.’ She has already met with Georgian Foreign Minister David Zalkaliani at the Palace of Official Ceremonies (former presidential palace in Avlabari) in central Tbilisi.
Georgia will be one of the first countries in the region to start negotiations on a free trade agreement with the United Arab Emirates (UAE), Georgian Economy Minister Natia Turnava announced after the meeting in the Ministry of Economy of the UAE.