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.
At the meeting held on the sidelines of the Tbilisi Silk Road Forum, the sides highlighted the significance of signing the comprehensive economic partnership agreement between the two countries in October, the Government Administration said.
Garibashvili said the agreement laid “a solid foundation” for the development of stronger and consolidated trade and economic relations between the two states, with the parties noting the agreement would open the UAE’s 10 million consumer market with “high purchasing power” for Georgia.
At the meeting, it was also pointed out that Georgia was interested in deepening partnership and friendly relations with the Gulf countries, with the Georgian PM emphasising his country’s role in connectivity and transit with the countries of Europe, Asia and the Middle East.
The favourable investment environment and potential in Georgia were also emphasised at the meeting, with the parties highlighting the increased trade turnover between Georgia and the UAE in the first nine months of 2023, which amounted to $312.91 million.
An increase in exports and imports by 60 and 65 percent, reaching $35.69 and $277.22 million, was also noted by the sides.
Garibashvili and Al Zeyoudi also discussed Georgia’s geostrategic location and historical transit role, with the officials stressing the importance of the country in connecting East and West amid the current geopolitical events.