MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

First Vice Prime Minister, Minister of Economy and Sustainable Development Levan Davitashvili met with the Minister of Economy of Azerbaijan Mikayil Jabbarov. The meeting was held within the framework of Levan Davitashvili's working visit to Azerbaijan. It was also attended by the Ambassador of Georgia to Azerbaijan, Zurab Pataradze.

The meeting focused on the further development of bilateral trade and economic relations, as well as cooperation in infrastructure projects of regional importance.

It was noted that in January-October 2024, the bilateral trade turnover between the countries exceeded 1 billion USD, according to which Azerbaijan is the sixth largest trading partner of Georgia and the third largest exporting country. However, as it was said at the meeting, the potential in bilateral trade is significant and both countries are making efforts to realize it.

Attention was also focused on cooperation in the field of investment. The fact that the amount of Azerbaijani investments in the Georgian economy has been growing, especially in recent times, was positively assessed. In particular, in 2023 this indicator increased by 3018% compared to the same period of the previous year. The interest of Azerbaijani investors was noted in transport, logistics, construction, the financial sector, industry, real estate, communications and other sectors. In addition, the meeting focused on cooperation between the countries in regional projects. Among them, the discussion was held on the Middle Corridor route, within the framework of which the volume of cargo turnover is characterized by increasing dynamics. It was noted that the parties will make joint efforts to further develop the existing transport and logistics infrastructure in order to attract additional cargo flow in the mentioned corridor. The discussion also touched upon the progress of the construction of the Anaklia Deep Sea port. The parties also discussed the current situation on the Baku-Tbilisi-Kars railway, as well as the possibility of scheduling additional flights between Georgia and Azerbaijan.

The parties discussed a regional energy project, in the joint development of which Azerbaijan is involved along with Georgia. The project is a Black Sea Submarine Cable, which should connect the Georgian power system with the European Union. It was noted that the development of the Green Energy Corridor will contribute to the further deepening of regional cooperation. Attention was drawn to the special importance of the project for supplying the green energy resources of the South Caucasus to the European Union market.

The parties also discussed the development of cooperation in the tourism sector.