Georgia, Azerbaijan to deepen economic relations

  16 February 2018    Read: 1297
Georgia, Azerbaijan to deepen economic relations
Trade turnover between Azerbaijan and Georgia amounted to USD 244.58 million in January-September 2016. 

It was stated at the meeting of the Azerbaijani Minister of Economy Shahin Mustafayev and his counterpart, the First Vice Premier, Minister of Economy and Sustainable Development of Georgia, Dimitry Kumsishvili, who met within the framework of the Southern Gas Corridor (SGC) 4th Ministerial meeting in Baku.

Main directions of economic cooperation between the two countries were discussed at the meeting and it was noted that despite the significant trade turnover between the countries, the potential is very high and economic relationship should be stepped up.

The Ministers in particular stressed the increasing bilateral trade since in 2017, when Azerbaijan became the fourth largest partner for Georgia and export indicator was increased by 78% compared to 2016.

Dimitry Kumsishvili and Shahin Mustafayev also talked about the signing of the agreement on recognition of the geographical names and the necessity to call for Intergovernmental Commission on Economic Cooperation.

The sides also decided to widen the current economic corridors and develop new ones to facilitate the increased turnover and volume of trade commodities.

The officials discussed the Baku-Tbilisi-Kars (BTK) railway project, the construction of which is set for completion in the near future. It was mentioned at the meeting that the railway link will boost the volume of transported cargo and will also attract additional volumes from both Europe and Asia.

Mutual cooperation in multilateral and regional formats was also discussed by the sides.


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