Azernews.Az

By Sabina Idayatova

Georgia and Israel intend to simplify the visa system, Georgian Prime Minister Bidzina Ivanishvili said at the opening of a joint business forum in Tbilisi on Wednesday.

Ivanishvili said the Georgian government will deal with the simplification of the visa regime between the two countries and reduction of the ticket cost.

"We can agree on reducing the ticket cost. We are talking about this with certain companies," he said.

Ivanishvili also proposed Israeli businessmen to participate in the co-financing fund which was established at his initiative.

According to Ivanishvili, the fund will be commercial rather than social and any businessman will be able to participate in it in case the project is profitable.

"If your business idea is well-founded, the fund will be able to fund 25 to 75 percent of the project," he said.

Ivanishvili stressed that the government will create all conditions for Israeli businesses to start developing in Georgia.

"The Georgian government has been motivated to attract investments into the country, as prosperity can only be achieved through economic revival," Ivanishvili said.

Ivanishvili drew Israeli entrepreneurs' attention to the low taxes in Georgia, the country's geographical location and climatic conditions which are attractive to investors.

The two-day Georgia Gateway 2013 forum was organized by the Israeli Embassy in Georgia.

According to the embassy, the forum provides a unique opportunity to deepen the cooperation between the business circles of Georgia and Israel.

The Israeli delegation includes representatives of companies operating in areas such as industry, agriculture, communications, and pharmaceuticals.

Over 60 representatives of 25 companies of Israel as well as more than 100 companies from Georgia are taking part in the forum.