MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Deputy Minister of Economy and Sustainable Development, Genadi Arveladze, held a meeting at the Austrian Ministry of Labor and Economy, during which priority areas of trade and economic cooperation between the two countries were discussed. The meeting with Florian Frauscher, Director-General of the Directorate-General for Economic, Innovation and International Policy of the Ministry, took place within the working visit of Genadi Arveladze to Austria.

"We had a very good meeting, we discussed bilateral economic relations and the areas of interest to both countries – to develop such important directions as trade, energy, tourism, and transport. We also discussed projects that will further strengthen our country's strategic importance in the region, such as the Black Sea submarine electric cable and the digital cable, which will contribute to further strengthening Georgia's function as a regional hub. It is important that Austria is a significant contributor to our country in terms of reforming various sectors of the economy and sharing experience," – Genadi Arveladze said.

Participants of the meeting emphasized the importance of the Intergovernmental Economic Commission between Georgia and Austria, the next meeting of which is scheduled for October 2025. A business forum is also planned, in which companies from both countries will participate. The growing interest of Austrian investors in Georgia was highlighted, in particular, investment projects are actively being implemented with the participation of Austrian capital in logistics, energy, food production, tourism, and other sectors.

"Today we had a very good meeting with the Deputy Minister of Economy and Sustainable Development of Georgia. We talked about bilateral political and economic relations, we had a discussion on the EU integration process, and also on various potential projects in Austria and Georgia where our companies could cooperate. We see great potential, for example, in the infrastructure sector, as well as in the energy sector. Our countries are making large investments in green energy, and we want to cooperate in this area. I look forward to coming to Georgia in the second half of the year and bringing a business delegation to strengthen our bilateral economic and political relations" – Florian Frauscher said.

The meeting also positively assessed cooperation between the countries in the tourism sector. The growing dynamics of Austrian travelers in Georgia in recent years was emphasized, in particular, 48% more travelers visited Georgia from Austria in 2023, and 14% more in 2024. As the parties noted, the increase in traveler dynamics was facilitated by the addition of another direct flight and the entry of Austrian Airlines into the Georgian civil aviation market. The importance of the Austrian side's involvement in the development of mountain tourism was also emphasized.

At the meeting, the Deputy Minister of Economy and Sustainable Development thanked his Austrian colleague for Austria's support for Georgia's sovereignty and territorial integrity. He also noted that Austria has provided significant assistance to Georgia in terms of European integration over the years, and its role in the process of European integration is important so that this role is further strengthened in the dialogue process.