Georgia appreciates bilateral relations with Latvia
By Mushvig Mehdiyev
President of Latvia Andris Berzins and Georgian Prime Minister Irakli Garibashvili opened a Georgian-Latvian Business Forum on November 26, aiming to discuss the opportunities for development projects, growth in exports in the European Union (EU) countries, as well as foreign direct investments.
Garibahsvili said the Georgian government was ready to offer investors advantageous circumstances to develop their businesses in the South Caucasus state.
He stressed the importance of improving economic and political relations between Georgia and Latvia.
"Georgia is open to foreign investors. We especially attach great importance to our deepening economic ties with Latvia. There are many other directions to achieve progress in terms of the investment and trade cooperation, despite the growing bilateral trade between our countries,” he said.
Latvia is the upcoming presidency country of the European Council. An Eastern Partnership Summit will be held in Riga in May during Latvia's EU presidency. Georgia will attend the meeting, believing that this format of relations is the best option to deepen relations with the Eastern Europe countries, particularly Latvia.
Over seventy Latvian delegates representing the energy, construction, insurance, finance, food production and industrial engineering fields visited Georgia to share their experience and present joint investment plans with their Georgian counterparts.
"Latvian businessmen joined the governmental delegation in Georgia to create contacts and cooperation plans for developing serious and far-reaching business projects with Georgian partners,” Berzins said.
Garibashvili, in tun, said Georgia is a safe country for investing, which ensures lower taxes, fewer regulatory burdens and higher returns.
"We are committed to fulfill our important tasks and ensure macroeconomic stability, open and fair competition in the market, protect the property rights including intellectual property, as well as provide access to impartial justice and build a stable, predictable and transparent legislative environment,” he added.
Garibashvili put emphasize on the importance of Georgia’s Deep and Comprehensive Free Trade Area as part of the Association Agreement with the EU.
Georgia’s export to the EU countries grew by 70 percent states from 2012 to 2014 and the full enactment of the DCFTA will increase Georgia’s exports by 12.4 percent and imports by 7.5 percent, according to Garibashvili.
Georgia is on its way to integrate into the European Union, having the strong support of many European countries. The Association Agreement with the EU aims to cement the bilateral relations and facilitate Georgia's entry into the union. The post-Soviet country has taken on numerous tasks and reforms before the EU including the visa liberalization with the union's member-states.