Georgian Deputy Economy Minister discusses economic issues, Black Sea submarine cable project with US officials
The Minister pointed out the financial and technical support provided by USAID to help the country's economy grow in areas like agriculture, energy, trade and other, noting the agency's assistance with Georgia's integration into European structures and its economic reforms. Photo: Ministry of Economy
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Georgian Deputy Economy Minister Genadi Arveladze on Sunday discussed priority areas of economic cooperation between Georgia and the United States and its further development prospects with Carlos DeJuana, Managing Director of US International Development Finance Corporation and Alexander Sokolowski, Deputy Assistant Administrator in the Bureau for Europe and Eurasia at USAID.
Both meetings during Arveladze’s official visit to the US highlighted the Black Sea submarine electricity cable project intended to connect the grids of the South Caucasus and European Union member states, involving the construction of a high-voltage underwater transmission infrastructure to connect Georgia with Romania and allow the export of green energy to Europe and its ongoing technical and economic study, which is being carried out by Georgian State Electrosystem along with the Italian consulting company CESI.
Arveladze introduced the existing economic trends in Georgia in a meeting with the Deputy Assistant Administrator in the Bureau for Europe and Eurasia at USAID, with the USAID representatives “positively evaluating” the reforms that had been implemented and emphasised Georgia's consistent top rankings in reports released by international financial organisations and rating agencies.
The Minister pointed out the financial and technical support provided by USAID to help the country's economy grow in areas like agriculture, energy, trade and other, noting the agency's assistance with Georgia's integration into European structures and its economic reforms.
The meeting also covered the current situation in the Black Sea region on the backdrop of the ongoing war in Ukraine, with the Minister pointing out the capacity of the country's transport and logistics industry handling the increased cargo flows from Asia to Europe and vice versa.
The meeting with the Managing Director of the US International Development Finance Corporation also focused on the opening of the DFC regional office in Georgia, noting a range of fields in the country including health care, tourism, logistics, production, the development of renewable energy sources and others, have received funding and support through organisations like DFC.
The Georgian official also mentioned that the Tbilisi Silk Road Forum would be held in capital Tbilisi between October 26-27, in the first edition since the Covid-19 pandemic, to review “factors defining regional and global trade and connectivity”, and pointed out that the the US International Development Finance Corporation’s “high-level involvement” in the Forum would be “crucial”.
Trade, economic and investment cooperation between Georgia and the United Kingdom was discussed on Wednesday in a meeting between Georgia’s Deputy Economy Minister Irakli Nadareishvili and Malcolm Offord, the UK Minister for Exports.
Romeo Mikautadze, the Deputy Economy Minister of Georgia, featured in a meeting on the development and transmission of green energy between the governments of Azerbaijan, Georgia, Hungary and Romania, the Ministry said on Tuesday.
Strategic cooperation between Georgia and the United States and the partnership in trade, transport and energy were discussed on Saturday in a meeting between the Georgian Deputy Economy Minister Genadi Arveladze and Heidi Gomez, the US Deputy Assistant Secretary of State.
Cooperation between Georgia and World Bank and the Black Sea submarine electricity cable project intended to connect the grids of the South Caucasus and European Union member states were discussed on Friday in a meeting between the Georgian Deputy Economy Minister Genadi Arveladze and Koen Davidse, the Executive Director of the Bank.
The United States Agency for International Development will work with the Georgian municipalities of Kutaisi, Tkibuli, Mestia and Lentekhi by supporting improvements to the quality of life and empowerment for local communities, the Agency said on Wednesday.
The European Union “strongly supports” the Black Sea submarine cable project, a new transmission route to deliver green energy from Azerbaijan to Europe, and hopes the South Caucasus will become a “very important” source of energy for Europe, Paweł Herczyński, the Ambassador of the European Union to Georgia, said on Thursday.
Officials from Georgia, Azerbaijan, Romania and Hungary on Thursday met in the Georgian capital city of Tbilisi to discuss various stages of the implementation of the Black Sea submarine electricity cable project, a new transmission route to deliver green energy from Azerbaijan to Europe, the Georgian Ministry of Economy announced.
Georgian Government officials and professionals from the Italian consulting company CESI on Tuesday visited western Georgia's Black Sea coastal town of Anaklia to select the approximate route and locations for the Black Sea submarine electricity cable project, an international initiative to connect the South Caucasus power grid to that of Europe.
The United States Agency for International Development and Georgian Renewable Power Company have teamed up to develop a solar power project at the Qartli wind farm to increase Georgia's clean energy production capacity during periods of low wind speed in the central municipality of Gori, the USAID announced on Friday.
Jubo Turashvili, the Head of the Energy Policy and Investment Projects Department of the Ministry of Economy of Georgia, on Thursday highlighted the country’s “strategic location” in comments that confirmed the Government’s “readiness” to “make a significant contribution” to Europe's energy security.
The bilateral economic relations and priority directions were discussed on Wednesday by Georgian Economy Minister Levan Davitashvili and Mamuka Tsereteli, the head of the America Georgia Business Council, as well as the US business delegation, who will participate in the upcoming Tbilisi Silk Road Forum.
Georgia’s European integration process was reviewed on Friday in a meeting between the Georgian Foreign Minister Ilia Darchiashvili and Kadri Simson, the European Commissioner for Energy.