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Georgian Economy Minister, UAE officials discuss trade, economic ties

13 February 2024 21:40 (UTC+04:00)
Georgian Economy Minister, UAE officials discuss trade, economic ties

Georgian Economy Minister Levan Davitashvili on Tuesday met United Arab Emirates officials to discuss trade and economic ties on the sidelines of the ongoing World Governments Summit in Dubai, Azernews reports, Agenda.

The Economy Ministry said the meeting featured Suhail Mohamed Al Mazrouei, the UAE Minister of Energy and Infrastructure, and Thani bin Ahmed Al Zeyoudi, the country’s Minister of State for Foreign Trade.

Davitashvili noted Georgia's economic relations with the UAE were “actively developing” and noted last year’s data showed the trade turnover between the two countries had increased by 39 percent. He also said 18.9 percent more tourists from the Emirates visited Georgia, with the number of passengers transported by direct regular flights in 2023 showing a 23.1 percent increase over the previous year.

The Ministry said the meeting with Al Zeyoudi highlighted the comprehensive economic partnership agreement between the two states, signed in October, with Georgia benefiting from the free trade deal with the Emirates and access to an additional market of 10 million consumers with “high purchasing power”.

The body added the officials also discussed the next stages of stimulating the agreement to bring the private sector even closer and increase the volume of investments from the Emirates to Georgia.

It also said relations and cooperation were “highly appreciated” in a meeting with Al Mazrouei, with the Georgian official noting development priorities and future plans of the country’s energy sector.

Davitashvili said the cooperation in the energy sector with the UAE was “particularly interesting”, and noted the Georgian Government was “ready to take active steps” to deepen the ties and create additional investment opportunities.

The meeting emphasised the plans for the largest solar power plant project in Georgia, implemented by the Emirati state-owned renewable energy company Masdar in the Gardabani Municipality of the southern Kvemo Kartli region.

The plant will reduce the country’s dependence on energy imports and diversify local sources of electricity supply, as well as contribute to the achievement of renewable energy, climate change goals and the fulfilment of obligations under the Association Agreement, it added.

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