Georgia joins declaration on investment promotion at World Trade Organisation ministerial
Georgian Deputy Economy Minister Genadi Arveladze on Wednesday said the country had joined the declaration on investment promotion and development during the 13th ministerial session of the WTO. Photo: Ministry of Economy
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Georgian Deputy Economy Minister Genadi Arveladze on Wednesday said the country had joined the declaration on investment promotion and development during the 13th ministerial session of the World Trade Organisation held earlier today in Abu Dhabi.
The agreement will increase transparency for investment measures between member countries and simplify administrative barriers for investors. We also issued a corrigendum for the agreement on internal regulation in the service sector, which will enhance transparency and reduce bureaucratic barriers”, Arveladze said.
He said Georgia had made “significant strides” in enhancing transparency regarding investments and trade in services.
The country is considered a leader in this field, not only in the wider region but also globally”, Arveladze said.
The Deputy Minister added Georgia was also “actively considering” joining the subsidy agreement for fisheries.
The fourth round of negotiations on the draft Foreign Investment Promotion and Protection Agreement was held between Georgia and Canada in Canada’s capital Ottawa, the economy ministry said on Saturday.
Georgia's investment value and opportunities were discussed on Friday by Minister of Economy and Sustainable Development Levan Davitashvili and 13 International investment consultants on visit to the country from the United States, Europe and Asia.
A group of international investment consultants, on a working visit to Georgia as part of the USAID Economy Security Programme, have pledged to promote the country as the “best place worldwide” to invest and featuring the “easiest procedures” to start a business.
Georgia has become a member of the World Association of Investment Promotion Agencies (WAIPA) through the application of Invest in Georgia, which is run by the country's export support agency Enterprise Georgia.