MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

First Vice Prime Minister, Minister of Economy and Sustainable Development Levan Davitashvili met with the Deputy Prime Minister of Uzbekistan, Jamshid Hodjayev, visiting Georgia within the framework of the annual meeting of the Asian Development Bank.

The delegation of Uzbekistan was composed by the Deputy Ministers of the ministries of Investments, Industry and Trade, Agriculture, Health and Preschool and School Education.

Deputy Ministers of Economy and Sustainable Development, Genadi Arveladze and Guram Guramishvili, as well as the Head of the Department of Trade Development and International Economic Relations of the Ministry, Givi Zedelashvili, also attended the meeting.

The parties discussed the priority areas of bilateral trade and economic relations and special emphasise fell on the dynamics of stable growth in bilateral trade recorded during the recent years, in particular, it was noted that in the January-March 2024, trade turnover was increased by 64%, while the exports was augmented by 55%. Despite the positive dynamics, the parties noted that they are making efforts to increase bilateral trade at the expense of both traditional and new export products.

Cooperation in the field of investments was also covered during the meeting. It was noted that in addition to a liberal business environment, Georgia, under the terms of signed free trade agreements, has access to a third of the world's consumer market, which represents 2,3 billion people. As for the favourable sectors for investments in Georgia, attention was focused on such important sectors as tourism, energy, agro-industry, real estate, logistics, transport, information technology, etc.

Special emphasis was placed on attracting the Uzbek investments in the tourism sector of Georgia, in particular, in the development of the Tskaltubo resort. In addition, the issue of launching light industry enterprises in Georgia with Uzbek investments was discussed. The government delegation of Uzbekistan will also come to Georgia to study both directions.

The parties also focused on cooperation in the transport and logistics sectors, through which the cargo flow between the two countries will increase. The conversation also focused on further liberalization of the existing contractual base in the field of air transportation, which will promote deeper cooperation in this direction, including in the field of tourism. It was said that despite the growth dynamics of tourists from Uzbekistan, the potential is much greater.

The parties positively assessed the progress of the so-called multilateral cooperation between the two countries within the framework of the so called “road map”, which was signed in 2023.

At the meeting, trade and economic cooperation between Georgia and Uzbekistan in the format of the Intergovernmental Commission received a very positive evaluation. The following meeting of the Commission will be held in Tbilisi on June 12-13 this year.