Within the framework of the visit to the United Arab Emirates, First Vice Prime Minister of Georgia, the Minister of Economy and Sustainable Development Dimitry Kumsishvili had a meeting with the UAE Minister of Economy, Sultan Bin Saeed Al Mansoori.
Trade and economic relations between the two countries were the main topic of the conversation and the progress in trade, economic, investment and tourism between Georgia and the United Arab Emirates was specially highlighted. In particular, according to the data of the two months of 2018, Georgia’s trade turnover is increased by 14% while the exports is increased by 25%. As noted at the meeting, the trade turnover will significantly facilitate the signing of the Free Trade Agreement with Georgia and the Gulf States. The parties found important to speed up the signing of an economic agreement between Georgia and the United Arab Emirates and the establishment of the inter-governmental commission.
The First Vice Prime Minister of Georgia, Dimitry Kumsishvili focused on the initiation of the Commercial Attaché Institute in Georgia and on the fact that the United Arab Emirates are amon those 6 priority countries where Georgia intends to delegate commercial attachés.
Positive trend in tourism between the two countries was also highlighted during the conversation. Compared to the same period of 2017, the number of tourist from the UAE in the first two months of 2018 is increased by 7%, which is also preconditioned by launching the direct flights – the two UAE airlines, the FlyDubai (with 21 flights a week) and the Air Arabia (with 7 flights a week) in the first two months of 2018, compared to the same period of 2017, provided with services by 26% more passengers.
“We discussed the UAE investments in Georgia as well. At this point the investment volume is over 800 million USD and we believe this number will be increased in the future. The increasing number of visitors is also a significant issue, since last year, the FlyDubai and the Air Arabia brought over 325 000 visitors to Georgia,” – Dimitry Kumsishvili noted.
The Minister also stressed on the Investment Protection Agreement between the UAE and Georgia, which became affective on April 8, this year. As Dimitry Kumsishvili commented, this agreement will attract even more investments to the country.
The parties agreed on further expansion of the cooperation in the priority directions targeting at enhanced economic relations between the two countries.
The UAE Minister of Economy, Sultan Bin Saeed Al Mansoori gave a special importance to the deepening of the cooperation and development between the UAE and Georgia.
“I welcome and appreciate the changes which are being implanted in the country and the way Georgia is open in terms of attracting investments. Current situation provides us with vast opportunities of further development of the cooperation between our countries,” – Sultan Bin Saeed Al Mansoori noted.
Deputy Minister of Economy and Sustainable Development Giorgi Cherkezishvili, the CEO Anaklia City, Ketevan Bochorishvili and the Georgia’s Ambassador to Kuwait and the United Arab Emirates, Roland Beridze also attended the meeting.
