George Kobulia Met Economy Minister of Bulgaria

Within the visit to Bulgaria, the Minister of Economy and Sustainable Development George Kobulia met with the Bulgarian Economy Minister, Emil Karanikolov, where the sides discussed the bilateral trade-economic cooperation.

It was noted that Georgia and Bulgaria are in traditionally friendly relations and cooperate in many areas. The emphasis was made on further development of the trade and economic ties, promoting cooperation between the business circles of the two countries, etc. Relationship between the countries in the framework of regional cooperation was also emphasized.

George Kobulia introduced to the Bulgarian colleague the tendencies of Georgian economy as well as the ongoing and upcoming reforms by which international financial organizations have named the economy of the country to be one of the dynamically growing economies of the region. The challenges that exist in the region and the ways of their solution, including in the context of cooperation was also stressed during the conversation.

Speaking about the bilateral relations, it was noted that in 2018 the trade between Georgia and Bulgaria was increased by 29% and amounted to 440 million USD, which makes Bulgaria the 9th trade partner to Georgia. Volume of export from Georgia to Bulgaria is also increased by 39%. At the same time, the parties noted that the trade links should be further developed.

During the meeting, the importance of organizing business forum for the development of cooperation between the business representatives of the two countries was noted. The possibilities that Georgia offers to the entrepreneurs in terms of the Deep and Comprehensive Free Trade Agreement with the European Union and the favorable terms of the access to the EU market were also highlighted. 

Special emphasis was made on the investment climate in Georgia, which has been positively assessed by the international organizations, including the World Bank’s Ease of Doing Business, which ranked Georgia at the 6th position in 2019. 

Speaking about Bulgarian investments in Georgia, it was noted that the volume of investments made by Bulgarian investors in 2018 was by 89% higher compared to the same indicator of 2017.

George Kobulia invited his Bulgarian counterpart to the Tbilisi Belt & Road Forum, which will be held in October, this year.

Within the framework of the meeting, the sides underlined the importance of the development of cooperation in the field of transport between the two countries. Particular emphasis was laid on further development of existing motor and railway-ferry services that would contribute to increase of competitiveness compared to the alternative transport corridors crossing the two countries and conduct uninterrupted transport operations through them.

Ambassador of Georgia to Bulgaria Tamar Liluashvili, the Deputy Minister of Economy and Sustainable Development Genadi Arveladze, the Deputy Minister of Foreign Affairs Aleksandre Khvtisiashvili and the Deputy Minister of Environment Protection and Agriculture Khatia Tsilosani also attended the session.

Ministry of Economy and Sustainable Development of Georgia. 2017 ©