Georgia seeks to draw German investment
By Sabina Idayatova
Georgian Minister of Regional Development and Infrastructure David Narmania has held official meetings in Germany, Trend news agency reported on Friday.
The first official meeting of Narmania was held with Minister of State at the Federal Foreign Office of Germany Cornelia Pieper. The discussions touched on the new Georgian government's programs. A particular emphasis was placed on social and economic trends and the deepening of Georgian-German relations. The parties also discussed planned reforms of the government and Germany's support for continuing reforms.
Pieper highlighted issues of cooperation between Georgian and German cities in terms of mutual exchange of experience as well as a significant increase in the number of sister cities, whose number is currently only three. Pieper also stressed the need for cooperation with Regensburg in infrastructure projects.
Later, Piper and Narmania opened a conference organized by the Association of Economic Cooperation of Eastern and Central Europe where the minister made a presentation on Georgia's attractiveness for investment both in terms of capital investment and infrastructure projects.
The agenda of Narmania's official visit, which ends Friday, includes meetings with the Secretaries of State of the Ministry of Foreign Affiars, the Ministry of Economy and Technology, as well as the Ministry of Transport, Construction and Urban Development.
The Georgian delegation included the Chairman of Municipal Development Fund, Elgudzha Horkoshvili.
Germany was the first country in the European Community to recognize Georgia after its gaining independence from the Soviet Union in March 1992. The two countries established diplomatic relations in April 1992.
Germany is currently Georgia's fifth biggest trading partner. Germany mainly exports to Georgia cars, tobacco and medicines. Georgia's relatively insignificant exports to Germany include mainly nuts, metal goods and garments. The first half of 2012 saw a surge in bilateral trade by 53 per cent.
German companies with production facilities in Georgia, such as HeidelbergCement, Caparol and Knauf, are mainly active in the construction sector. ProCredit Bank is the third largest bank in Georgia.
The German Business Association in Georgia (DWVG), which was set up in 2007, has been instrumental in strengthening bilateral economic relations. Currently, more than 76 companies operating in Georgia are its members.