Georgia, UAE officially sign comprehensive economic partnership agreement
In his turn, Al Zeyoudi expressed hope that the private sector of both countries would “fully benefit” from the opportunities offered by the agreement and noted the comprehensive economic partnership would bring bilateral trade relations between Georgia and UAE to “a new level”. Photo via Economy Ministry
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The comprehensive economic partnership agreement was officially signed on Tuesday in Dubai by the Georgian Economy Minister Levan Davitashvili and Thani bin Ahmed Al Zeyoudi, the UAE State Minister for Foreign Trade.
Davitashvili called the signing of the deal “the beginning of a new stage” in the relations between Georgia and the UAE, and said it was in line with Georgia’s trade policy to have open trade relations with “interesting, promising countries”, which would allow to attract more investments, increase trade turnover and contribute to economic growth.
He highlighted the UAE as “one of the leading economies in the world” and noted it was “particularly exemplary” how the country was able to “transform in a short period of time”.
The agreement on economic partnership is a favourable document for both countries, Georgia has a free trade agreement with two very important economic blocs - these are both EU countries and China, and of course, this provides special opportunities for companies investing in Georgia, to benefit from the outputs of these two large markets”, Davitashvili stressed.
The Minister also emphasised that Prime Minister Irakli Garibashvili’s visit to the UAE in November last year, “has created a particularly positive dynamic” between the two states.
In his turn, Al Zeyoudi expressed hope that the private sector of both countries would “fully benefit” from the opportunities offered by the agreement and noted the comprehensive economic partnership would bring bilateral trade relations between Georgia and UAE to “a new level”.
Thani bin Ahmed Al Zeyoudi, the UAE State Minister for Foreign Trade. Photo via Economy Ministry
He highlighted the “sufficiently solid foundation” of trade and economic relations between the two states, which was reflected in the increased trade turnover in 2022 and 2023 years.
The agreement will open the UAE’s 10 million consumer market with “high purchasing power” for 97.5 percent of Georgian products, it will eliminate or significantly reduce tariffs and promote trade in goods, services and investment.
Georgian Economy Minister Levan Davitashvili and Thani bin Ahmed Al Zeyoudi, the United Arab Emirates State Minister for Foreign Trade, on Tuesday discussed trade and economic relations, as well as the comprehensive economic partnership agreement signed between the two states earlier during the day.
Georgian Prime Minister Irakli Garibashvili on Tuesday said the comprehensive economic partnership agreement signed between Georgia and the United Arab Emirates earlier during the day had laid a “solid foundation” for the development of “stronger and consolidated” trade and economic relations between the countries.
Georgia and the United Arab Emirates concluded negotiations on the comprehensive economic cooperation between the countries, with Georgian Economy Minister Levan Davitashvili and Thani bin Ahmed Al Zeyoudi, the UAE Minister of State for Foreign Trade, signing the joint statement on Friday.
Government delegations of Georgia and the United Arab Emirates on Wednesday met in the Georgian capital city of Tbilisi to launch the third and final round of their negotiations on a free trade agreement between the states, the Ministry of Economy of Georgia announced.
Georgian Deputy Economy Minister Mariam Kvrivishvili and Abdulla bin Touq Al Marri, the Minister of Economy of the United Arab Emirates, on Thursday discussed economic cooperation during a meeting hosted as part of the General Assembly of the United Nations World Tourism Organisation in Samarkand, Uzbekistan.
Georgian Prime Minister Irakli Garibashvili and Thani bin Ahmed Al Zeyoudi, the Minister of State for Foreign Trade of the United Arab Emirates, on Thursday discussed bilateral relations and prospects for future cooperation.
Cooperation between Georgia and the United Arab Emirates was discussed on Monday in a meeting between the Georgian Prime Minister Irakli Garibashvili and Abdulla Nasser Lootah, the Deputy Minister of Cabinet Affairs for Competitiveness and Knowledge Exchange of the United Arab Emirates.
Deepening of education ties between Georgia and the United Arab Emirates was discussed on Tuesday in a meeting between the Georgian Education Minister Giorgi Amilakhvari and Abdulla Nasser Lootah, the Deputy Minister of Cabinet Affairs for Competitiveness and Knowledge Exchange of the UAE.