MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

First Vice Prime Minister of Georgia, Minister of Economy and Sustainable Development, Levan Davitashvili chaired the 7th Ministerial Meeting pursuant to the Agreement on Strategic Partnership in the Green Energy Development and Transmission held in Tbilisi.

High-ranking representatives of the governments of Georgia, Azerbaijan, Hungary, Romania and Bulgaria participated in the event and discussed the progress of the technical-economic study of the "Green Energy Corridor" project initiated within the framework of the Agreement, the fibre-optic cable component of the project and future steps.

According to Levan Davitashvili, the parties discussed several important issues at the ministerial meeting, including the next stages of the development of the Black Sea submarine cable project. The participants once again emphasized the importance of the project, both for Georgia and the South Caucasus region, and for the European Union. It was noted that this is additional energy security for Europe and, at the same time, great opportunities for the energy systems of both Georgia and other states participating in the project.

"With this important project, Georgia has the opportunity to effectively communicate with the European Union and have access to an important energy market. Also, our country has the opportunity to play an important transit role and help Europe with new, renewable energies in security issues through the supply of renewable energies of the Caspian Sea," – Levan Davitashvili stated.

The First Vice-Prime Minister of Georgia held a face-to-face meeting with his Azerbaijani counterpart - Minister of Energy, Parviz Shahbazov within the framework of the ministerial meeting. The parties once again emphasized the importance of the Black Sea submarine cable project and cooperation in its implementation process for both countries, as well as for the entire region. They also talked about the establishment of a joint enterprise of four countries and its location - at this stage, the capital of Romania, Bucharest, is being considered. It should be noted that they also discussed the progress of the ministerial meeting on this topic.

The participants of the Ministerial also got acquainted with the initial results of the feasibility study of the Black Sea submarine cable project, its progress and the relevant presentation made by the representative of the contractor company CESI. In addition, reports were made by the representatives of the energy companies of the states involved in the project - Giorgi Gigineishvili, the General Director of the State Electric System of Georgia, as well as the heads of the Romanian "Transelectric", "Azerenergy", and the Hungarian energy company MVM.

The Ministerial Meeting was concluded with the signing of a special protocol, in which attention was focused on the further development stages of the project. According to the Minister of Economy of Georgia, the next meeting will be held in Bucharest, and it is within its framework that the joint enterprise of the four countries will be established, which will work on the implementation of the project.

"I think that this project, which started a year and a half ago in Bucharest, is successfully being developed" – Levan Davitashvili said.