Czech Republic among top investors in Georgian economy

17 February 2020 12:52 (UTC+04:00)

1 289

The Czech Republic ranks sixth for the volume of investments in Georgian economy (after Azerbaijan, the UK, Netherlands, the US, and Panama), Ministry of Industry and Trade of the Czech Republic told Trend.

According to the ministry, the Czech investments are primarily made in tourism and energy sector.

"At the present, we do not register any significant direct investment in the Czech economy by Georgian entities", said the ministry.

In 2018, the mutual turnover between the countries increased by 12 percent to 100 million euro, the ministry noted.

"As we look at the 2018 final statistics, the main export commodities from Czechia to Georgia were machinery and transport equipment, chemicals and related products, and industrial consumer goods. The import from Georgia to the Czech Republic was composed of industrial consumer goods as well as food and live animals", said the ministry.

The Czech Republic is a traditional economic partner of Georgia, though not the key one, noted the ministry.

According to the ministry, priority areas of cooperation for both countries are industry, energy (including renewable energy sources), transport, transportation means and infrastructure, agriculture and food industry, health care, ecology, urban infrastructure and regional development.

Given that Czechia has a leading role in the innovative technologies, a number of projects to support innovative solutions with the participation of the Czech companies are implemented in Georgia, added the ministry.

---