Georgia, United Arab Emirates to establish joint business council

Georgia and the United Arab Emirates on Tuesday signed a memorandum to establish a joint business council, with Georgian Economy Minister Levan Davitashvili and Ahmed bin Ali Al Sayegh, the UAE Minister of State, adding their signatures to the agreement. 

Davitashvili called the deal on the joint council an “important agreement” between the chambers of commerce of the two countries, and added it would encourage trade and investment projects.

He also noted Georgia's deepening economic relations with the UAE, with the Ministry citing the official on naming energy, transport, real estate and hotel infrastructure among priority directions in the ties.

Davitashvili also said negotiations on signing a free trade agreement between the two countries would officially begin this year and “give a new impetus” to investment projects in Georgia. He also emphasised the UAE side attached a “high political importance” to a timely signing of the agreement on the free trade deal with Georgia.

The Minister noted Gulf countries, including the UAE, were “important prospective economic partners” for Georgia.