Georgian Minister of Economy Natia Turnava held a meeting with German Federal Deputy Minister of Economic Affairs and Energy, Thomas Bareiß to speak about Georgian-German economic relations and cooperation in the field of private investments.
Bilateral trade relations were the main topic of the conversation and it was noted that Germany is one of the largest trading partners for Georgia.
Minister of Economy and Sustainable Development Natia Turnava particularly emphasized the role of the German Bank for Reconstruction and Development (KfW), the German International Cooperation Society (GIZ) and other German institutions in enhancing of bilateral cooperation.
Natia Turnava particularly focused on the initiative by the German Chancellor Angela Merkel last year to establish a regular business roundtable with participation of business representatives of the two countries. According to the Minister, it is important that 4 business forums have been held between Georgia and Germany over the past two years, covering such topics as logistics and infrastructure, communications, construction, agriculture, food industry, etc.
It was noted at the meeting that Germany is one of Georgia’s largest trading partners. According to the statistics for 2018, Germany is the 8th largest trading partner country. During the mentioned period, the trade turnover between the two countries amounted to 482 million USD. As for the 8-month of 2019, Germany is still in the top ten of the main trading partners (8th largest) with trade turnover of 318 million USD.
It was also noted that Germany is one of Georgia’s key investment partners, which is evidenced by the fact that there are over 250 companies established on German investments in the country.
The sides also discussed the opportunities that Georgia has within the Deep and Comprehensive Free Trade Agreement with the EU. It was noted that the agreements, both bilateral and with the European Union as a whole, made trade and investment relations even more attractive and brought them to a higher level.
Natia Turnava thanked the German side for facilitating Georgia’s involvement in the Global Curriculum for Partners with Germany. The Minister said that the program is an excellent opportunity for business circles to actively participate in deepening cooperation between the two countries.
In conclusion, the parties expressed their readiness for further cooperation and expressed hope that the deepening of economic ties between the two countries would greatly contribute to the development of business relations between Georgia and Germany.
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