Georgian, Saudi economy ministers discuss "priority areas" in economic ties

Georgian Economy Minister Levan Davitashvili met Saudi Minister of Economy and Planning, Faisal bin Fadel Al-Ibrahim. Photo: Ministry of Economy, 22 Dec 2022 - 13:27, Tbilisi,Georgia

Georgian Economy Minister Levan Davitashvili and Saudi Minister of Economy and Planning, Faisal bin Fadel Al-Ibrahim, discussed "priority areas" of economic relations as part of a Georgian Government delegation’s ongoing visit to Saudi Arabia, the Georgian Ministry of Economy announced on Thursday. 

The state body said the discussions had involved discussions of ties in trade, tourism, civil aviation, maritime transport, energy, real estate and mining sectors. It also added the Georgian side had raised the issue of establishing a joint economic commission that would contribute to the deepening of bilateral trade and economic relations.

The discussions also involved the start of consultations over a free trade agreement with the Gulf Cooperation Council.

In the meeting, the two sides reviewed cooperation in the energy sector, with Davitashvili promoting Georgia's renewable energy potential and stressing the importance of the recently signed deal on building a high-voltage underwater transmission grid on Black Sea floor to connect the power transmission lines and systems of Georgia, Romania, Azerbaijan and Hungary and allow the export of green energy to Europe.

The meeting also noted the cooperation in tourism. The Economy Ministry noted Georgia had hosted 117,190 visitors from Saudi Arabia over the first 11 months of 2022, a 100 percent increase over the same period of 2021.