Georgian Economy Minister, Turkish Trade Minister discuss economic relations, sign amendments to Georgia-Türkiye Free Trade Agreement
The importance of the Georgian and Turkish private sectors to take “maximum advantage” of this “unique” opportunity for the development of bilateral economic relations was also highlighted. Photo: Economy Ministry.
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Georgian Economy Minister Levan Davitashvili and Mehmet Muş, Turkish Trade Minister on Saturday signed the amendments to the Georgia-Türkiye Free Trade Agreement and discussed economic relations between the two countries.
The officials said the economic relations between Georgia and Türkiye have been a “visible example” of how trade and economic cooperation between “two neighbouring countries” could be developed, while also highlighting that Türkiye has been the “largest trade partner” of Georgia, with a free trade regime operated.
Successful projects, having been implemented in “almost all fields” in recent years, were also emphasised, which have been a result of the “consistent deepening and liberalisation” of trade and economic relations between the countries, the Economy Ministry said.
The sides also stressed that despite the “dynamic” trade relations between the countries, the potential has been “much greater”, which would be facilitated by the changes in the Free Trade Agreement, as well as by diagonal cumulation, and noted that the aforementioned would bring the business circles of the two countries “closer together” and help to expand or create new industrial enterprises, promote employment and increase exports to the European Union.
The importance of the Georgian and Turkish private sectors to take “maximum advantage” of this “unique” opportunity for the development of bilateral economic relations was also highlighted.
The Turkish Trade Minister also participated in a forum entitled Trade and Investment Opportunities, Diagonal Cumulation held in the Georgian capital of Tbilisi on Friday, which praised the benefits of the 2018 agreement between Georgia, Türkiye and the EU for strengthening trade and economic ties between the sides.
A forum held in the Georgian capital of Tbilisi on Friday praised the benefits of the 2018 agreement between Georgia, Türkiye and the European Union for strengthening trade and economic ties between the sides.
The development of the Middle Corridor transportation lane of Georgia, Azerbaijan and Türkiye, and the increase of competitiveness of the corridor were discussed on Tuesday in a tripartite meeting between Georgian Economy Minister Levan Davitashvili, Azerbaijani Digital Development and Transport Minister Rashad Nabiyev and Turkish Transport and Infrastructure Minister Adil Karaismailoğlu.
An agreement on preliminary data exchange to simplify customs transit procedures between Georgian, Turkish and Azerbaijani Governments was signed on Thursday in a tripartite meeting by Levan Kakava, the Head of Georgian Revenue Service of the Ministry of Finance, Riza Turagay, the Deputy Minister of Trade of Türkiye and Shakhin Bagirov, the Acting Head of the State Customs Committee of Azerbaijan, in Azerbaijan's capital of Baku.
Along with the “extraordinary” people-to-people and political cooperation, Georgia has “tangible dynamics” in trade and economic relations with Turkey, with the benchmark of $3 billion in trade to be reached “very soon” through “joint efforts” of the two countries, Georgian Foreign Minister Ilia Darchiashvili said in a joint press conference with his Turkish counterpart Mevlüt Çavuşoğlu on Thursday.
Georgian Economy Minister Levan Davitashvili on Monday met Mubarak Abdulaziz Al-Khulaifi, the Director of Regional insight and business development of Qatar Investment , to discuss opportunities for investment in Georgia.
Georgian prime minister Irakli Garibashvili on Saturday congratulated Turkish president Recep Tayyip Erdoğan on the 99th Anniversary of the Proclamation of the Republic of Türkiye.