Azerbaijan tops list of Georgia's major investors
By Amina Nazarli
Azerbaijan has once again become Georgia's top investor, show the latest data from the National Statistics Office of Georgia.
Azerbaijan invested $224.2 million in the neighboring country in the first half of 2017.
The volume of investments invested by Azerbaijan fell by 20.3 percent in comparison with the same period of the previous year.
In general, Azerbaijan accounts for 36.6 percent of foreign direct investment invested in the Georgian economy.
Along with Azerbaijan, among the major investors in Georgia are the Netherlands (12.4 percent) and Turkey (11.3 percent).
Investments were invested in the sectors of transport and communications, energy, construction of hotels and restaurants and real estate.
Azerbaijan and Georgia are successfully cooperating in the political, economic, scientific, technical, and cultural spheres. The two countries are connected by several important regional projects, including the Baku-Supsa, Baku-Tbilisi-Ceyhan oil pipelines, Baku-Tbilisi-Erzurum gas line and Baku-Tbilisi-Kars railway.
Azerbaijan mainly exports petroleum, petroleum oils and gases, gypsum, anhydrite, plaster and other products to Georgia, while motor cars, live bovine animals, bars and rods of iron, as well as cement, make up the majority of imported goods from Georgia to Azerbaijan. M
Moreover, Azerbaijan’s state oil company SOCAR is deeply involved in the energy market in the neighboring South Caucasus republic.
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Amina Nazarli is AzerNews’ staff journalist, follow her on Twitter: @amina_nazarli
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