MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Deputy Ministers of Economy and Sustainable Development of Georgia Genadi Arveladze and Irakli Nadareishvili, within the framework of their working visit to South Korea, met with the Deputy Chairman of the Federation of Middle Market Enterprises of Korea (FOMEK), Hojun Lee.

Certain steps to deepen Georgia-Korea economic cooperation, including the importance of starting negotiations on a Free Trade Agreement between the two countries agencies, which is scheduled to be launched in February 2024, as well as the timely completion of ongoing negotiations on a bilateral investment agreement were discussed during the meeting. It was noted that the signing of the Agreements will be an important impulse for increasing the volume of trade and investments between Georgia and Korea, deepening sectoral cooperation and strengthening partnership relations between representatives of the business circles.

The Korean side was provided with detailed information about the favourable investment environment of Georgia, as well as the opportunities and mechanisms that the Georgian Government offers to companies interested in making investments in the country.

The parties agreed on continuing active communication and joint work to provide Korean medium-sized companies with information about specific investment projects. For this purpose, holding the online meetings with the companies as well as facilitating the organization of the visit of the FOMEK member companies to Georgia were paid a special attention. 

Extraordinary and Plenipotentiary Ambassador of Georgia to the Republic of Korea, Tarash Papaskua, also attended the meeting.