Azernews.Az

Azerbaijan, Georgia and Turkey are strategic economic partners, Georgian Economy Minister Vera Kobalia said after meeting her Azerbaijani and Turkish counterparts in Tbilisi on Thursday.

"It is regional cooperation and we can prove that our region is the fastest growing," Kobalia told a news briefing after the closed-door meeting, which took place at the three countries’ joint business forum.

"We will convince the world that our region is developing and there is economic growth in our countries on the backdrop of the crises in the U.S. and Europe," Kobalia said.

She noted that it is "the region of future" and a springboard for collaboration.

"The level of cooperation is already significant, but it should become deeper in the future," Kobalia said.

Azerbaijani Economic Development Minister Shahin Mustafayev, in his remarks, expressed satisfaction with the meeting, stressing that the sides had discussed a number of issues of mutual interest.

"The meeting took place with the complete understanding and goodwill and we were able to discuss many projects," he said.

Mustafayev welcomed the increase of Azerbaijani investments in the Georgian economy, saying that it is a sign of friendly relations between the two countries.

"Over the past year, Azerbaijan has increased investments in the Georgian economy by 50 percent. Azerbaijani business intends to actively participate in the implementation of joint projects in Georgia in the future," he said.

The minister said Azerbaijani companies have invested $800 million in Georgia in the past five years.

"272 Azerbaijani companies have been registered in the country, which have opened 7,000 jobs there," he said.

Mustafayev also highly assessed Azerbaijani-Turkish investment projects, stressing that Azerbaijan has increased its investments in Turkey by 31 percent over the last year. "Azerbaijan has invested a total of $4.5 billion in Turkey, and the figure may exceed $7 billion in the future."

He said the country intends to continue the implementation of investment projects in Turkey, which include the construction of a port in Izmir and acquisition of a network of stores in Istanbul.