Levan Davitashvili at Turkish-Georgian Business Forum

“Turkish business community’s interest in Georgia once again indicates the confidence shown in the ongoing reforms in Georgia and the business environment in general in the country,” – Levan Davitashvili, Vice Prime Minister, Minister of Economy and Sustainable Development, stated when delivering speech at the Turkish-Georgian Business Forum.

The Business Forum was attended by businessmen from Turkey, most of whom are representatives of the Georgian diaspora. Minister of Foreign Affairs, Ilia Darchiashvili opened the forum. The Ambassador of the Republic of Turkey to Georgia, Fatma Jeren Yazgan and the Chairman of the Turkish Businessmen Association in Georgia, Osman Turan also welcomed the participants of the event. The organizers of the Business Forum are the representatives of the Ministry of Foreign Affairs of Georgia and the historical diaspora of Georgia in the Republic of Turkey, who work to develop economic and business relations between the two countries.

Levan Davitashvili highlighted that Georgia and the Republic of Turkey have been in close relations for many years, which is a clear example of how trade and economic relations can be developed between the two neighbouring countries.

According to the Minister, in 2021, investments from Turkey to Georgia amounted to 65 million USD, and Turkey was at the 4th place in terms of foreign direct investment in Georgia, which underscores the attractiveness of Georgia in Turkish business circles.

The Vice Prime Minister thanked Turkey for its unwavering support for Georgia’s sovereignty and territorial integrity, for its very strong support and assistance to our foreign policy priorities. Davitashvili also thanked the Turkish side for its assistance in fighting the pandemic.

Levan Davitashvili also noted that Georgia’s investment environment has never been as competitive and diversified as it is today. He expressed the hope that the significant results achieved by the fruitful work of the governments of Georgia and Turkey will continue to establish effective links between businesses and the implementation of new, ambitious and innovative mutually beneficial projects.

“It is noteworthy that there are areas that are well studied and it is clear that there is a great interest in doing business here. These are information technology, process outsourcing, which are very dynamic, fast-growing areas. We have significant capabilities in the field of logistics and renewable energy, as well as in the field of electrical parts, auto parts, clothing and other types of production. In addition, we offer investors a variety of incentives, such as loan co-financing, co-insurance, grant support for direct investment, preferential tax regime in accordance with the status of an international company, etc.,” – the Minister commented.

In his speech, Levan Davitashvili stressed on the launching of diagonal cumulation system between Georgia, Turkey and the European Union, which, in his estimation, will provide additional impetus to deepen trade relations between the two countries.

“I am confident that this opportunity will encourage investment from both sides and, of course, will further increase the exports of both Georgia and Turkey. It is important for the development of economic relations between the two countries that the private sector of the two countries make the most of this unique opportunity and have consolidated, coordinated access to one of the largest EU markets,” – Davitashvili said.

After the official greetings, presentations on the Georgian investment environment and entrepreneurial opportunities and the successful results of Georgian-Turkish economic cooperation were introduced by the representatives of the Georgian and Turkish public and private sectors, including Mikheil Khidureli, Director of the Enterprise Georgia Agency, Deputy Minister of Foreign Affairs Alexander Khvtisiashvili, President of the Georgian Chamber of Commerce and Industry, Giorgi Pertaia and others.

Ministry of Economy and Sustainable Development of Georgia. 2021 ©