MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Within the framework of the World Economic Forum in Davos, Minister of Economy and Sustainable Development of Georgia, Giorgi Gakharia held a meeting with the Minister of Commerce and Investments of Saudi Arabia, His Excellency Dr. Majid Bin Abdullah Al Qasabi.

Economic and trade relations between the two countries were the main topic of the meeting.  Saudi Arabia is one of the important partners to Georgia. Georgian Minister welcomed the further enhancing of the relations and confirmed readiness to cooperate in the field of investments. 

Giorgi Gakharia introduced to his counterpart Georgian Government 4-point plan and the ongoing reforms. Priority economic sectors, which the Government aims to develop were also highlighted during the meeting.

Data of the 3 quarters of 2016 revealed that Saudi Arabia investments amounted to 10,53 million USD, which is 8 times higher figure compared to the same period of the previous year. At the same time, the trade turnover between Georgia and Saudi Arabia during the period of January-November 2016 amounted to 25,19 million USD, which is 266% higher to the same period of the previous year.