MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Minister of Economy and Sustainable Development, Natia Turnava met with Minister of Economy of Armenia, Vahan Kerobyan, who is in Georgia to participate in the 11th session of the Intergovernmental Commission on Bilateral Economic Cooperation.

The Ministers discussed bilateral trade and economic relations and the importance of the Intergovernmental Commission on Economic Cooperation as one of the successful formats of bilateral relations was underlined.

Natia Turnava spoke in detail about Georgia’s economic trends. As Turnava noted, Georgia will be able to complete 2021 with a double-digit economic growth, and in 2022 it will have 6% economic growth. “Georgia has one of the best results in the region in terms of economic growth and, according to international financial institutions, will maintain a leading position in the future. In 2021, Georgia’s economic growth between the wider region and European countries and will only stand behind Ireland’s economic growth forecast, and in the medium term, Georgia will have the highest economic growth rate of 6,2% on average among the region and European countries,” – Natia Turnava said.

The Minister of Economy and Sustainable Development of Georgia highlighted that Georgia considers Armenia as an important trade and economic partner. According to the data of 10 months of 2021, in terms of the trade turnover, Armenia is in the 7th place with 555 million USD. At the same time, the growth is 8% compared to the same period of the previous year.

“Development of economic relations is one of the important preconditions for deepening bilateral cooperation. Economic relations between our countries, at this point, are quite diversified and constantly developing. Apart from trade, we have common projects in transport and energy,” – Natia Turnava said.

The Ministers also focused on bilateral cooperation in such sectors as transport, logistics, energy, tourism, etc. They also talked about the new railway project between Tbilisi and Yerevan, as well as the launching of the project of 500 kV OHL Marneuli-Airum, whose construction is planned to start soon and which will allow electricity transit between the two countries.