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Azerbaijan, Georgia can deepen regional economic integration via cooperation

24 April 2022 10:00 (UTC+04:00)
Azerbaijan, Georgia can deepen regional economic integration via cooperation

Georgia may be able to strengthen regional economic integration by collaborating with Azerbaijan. , Elshad Mammadov, deputy director of the Russian School of Economics, and professor at the Azerbaijan Economic University, has said.

According to him, Azerbaijan has positioned itself as a country that pursues a balanced and pragmatic foreign economic strategy as a result of President Ilham Aliyev's effective approach.

Therefore, cooperation between Georgia and Azerbaijan can have a positive result in a variety of spectrums of the current agenda.

"Azerbaijan is a key country for Georgia from an investment point of view. In addition, from the point of view of export deliveries, Georgia is important for Azerbaijan," Mammadov said.

He added that, at the same time, regional cooperation should be more focused on joint large investment projects related to the development of the real sector of the economy, because, without the creation of regional chains and powerful production centers, it is difficult to achieve sustainable competitiveness.

"The main cooperation projects between Georgia and Azerbaijan should be in the nature of investments in the production of high value-added products, processing sectors. In this context, more investment in recycling is needed. This applies to agriculture, industry, energy," Mammadov noted.

According to the economist, it is necessary to carry out a larger-scale regional economic integration, in which it would be advisable for both Georgia and Azerbaijan to participate.

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