MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Deputy Minister of Economy and Sustainable Development, Genadi Arveladze held working meetings at the US State Department, the International Development Finance Corporation and the International Development Agency.

During the meeting with the Heidi Gomez, the US Deputy Assistant Secretary of State, which was also attended by the Georgian Ambassador to the US Davit Zalkaliani, the strategic cooperation between Georgia and the US was emphasized. The attention was focused on the potential of further development of the partnership in the future, especially in such areas of the economy as trade, transport and energy.

Difficult situation in the region, which affects Georgia as well, was also covered during the conversation. It was noted that due to the created situation, the so-called traffic passing through Georgia was increased. The importance of the middle traffic corridor. Deputy Minister spoke in detail about the steps taken by the Georgian government in this direction, and focused on the importance of the development of such strategic projects as Anaklia Deep Sea Port, modernization of the Georgian railway, East-West highway, Baku-Tbilisi-Kars railway, etc.

Black Sea Submarine Cable Project, whose implementation will connected to the energy system of Georgia and the South Caucasus to the European Union, was also an area of high interest at the meeting. Strategic importance of the project in terms of energy security of Georgia was also emphasized. It was also said that it is very important for Georgia to have a direct connection with the energy market of the European Union.

The parties discussed the issue of holding another meeting of the Economy, Trade and Energy Working Group (EWG) of the Georgia-US Strategic Partnership Charter Commission in the nearest future.

Genadi Arveladze personally invited Heidi Gómez to the Silk Road Forum planned in Tbilisi, which will be held for the fourth time this year. The Deputy Minister noted that high-level participation of Georgia’s main strategic partner country of the USA would be very important.

During the working visit, Deputy Minister also met the Carlos DeJuana, Managing Director of US International Development Finance Corporation (DFC). At the meeting, it was noted that the USA is the main strategic partner of Georgia, and through such organizations as the US International Development Finance Corporation, financial support in such priorities areas to Georgia as health care, tourism, logistics, production, development of renewable energy sources and others is implemented. 

The meeting focused on the opening of the DFC regional office in Georgia. Deputy Minister once again expressed his readiness to continue cooperation on the opening of the mentioned office in Georgia. At the meeting, special emphasis was placed on the Black Sea submarine cable project, which will connect the energy systems of Georgia and the European Union and significantly increase the energy independence of the country.

Within the framework of the visit, Deputy Minister discussed the prospects for the development of bilateral cooperation with Alexander Sokolowski, Deputy Assistant Administrator in the Bureau for Europe and Eurasia at USAID.

Impact of the current events in the region on the economy of Georgia was the main part of the conversation with special emphasis on the readiness of the country’s transport and logistics sector to smoothly serve the increased cargo flows from Asia to Europe and vice versa. Steps taken by Georgia in terms of energy security and independence, including the progress related to the ongoing feasibility study regarding the Black Sea Submarine Cable, were also discussed during the meeting.

Genadi Arveladze introduced Alexander Sokolowski to the current trends in the Georgian economy and noted that despite the difficult situation in the region, Georgia maintains steadily growing economic indicators. Deputy Minister thanked the representative of the agency for the activities carried out by the mentioned organization in Georgia focusing on the USAID’s financial and technical assistance in the development of such sectors of the country’s economy as agriculture, energy, trade, etc. It was also emphasized that the support provided by the Agency in the direction of the integration of Georgia into European structures, as well as economic reforms.

Representatives of the USAID positively evaluated the implemented reforms and emphasized Georgia’s consistently leading positions in the reports published by the international financial organizations and rating companies.