(MENAFN- AzerNews)
By Ayya Lmahamad
Azerbaijan's Alat Free Economic Zone (FEZ) and Georgian Hualing
Free Industrial Zone (FIZ) have signed a memorandum of cooperation,
Azernews reports.
The document was signed by Alat FEZ Board Chairman Valeh
Alasgarov and Hualing FIZ Director-General Soso Nibladze within the
Azerbaijani-Georgian business forum, which is being held in Baku on
June 29.
Speaking at the forum, Georgian Ambassador Zurab Pataradze said
that the relations between the two countries developed even more
active during the coronavirus pandemic. In this regard, he
mentioned that a meeting of the joint intergovernmental commission
on economic cooperation between the two countries was held in Baku
in 2021, adding that another meeting is expected to be held in
Georgia this year.
'I would like to note that our cooperation has been established
in political, economic and other areas. We are very pleased that
the trade turnover between our countries has exceeded $1 billion,'
he said.
Business relations
Noting that extremely favourable conditions for doing business
have been created in Georgia, the ambassador stated that a large
number of Azerbaijani entrepreneurs work in Georgia.
In this regard, Counselor of the Azerbaijani Embassy to Georgia
Sarkhan Ismayilov stated that over 3,000 companies with Azerbaijani
capital are registered in Georgia as of now, more than 1,000 of
which are active companies. He added that more than 600 companies
with Georgian capital are registered in Azerbaijan.
'Our countries continue to carry out trade and economic
cooperation. We see great potential in this direction and are
confident that these relations will only develop,' he said.
Trade turnover
Speaking at the forum, Adviser to the Head of Azerbaijan Export
and Investment Promotion Agency Zohrab Gadirov stated that the
trade turnover between the two countries exceeded $340 million in
January-April this year.
Noting that this figure increased compared to the same period
last year, he added that the mutual investments in the economies of
the two countries are also growing.
'Additionally, we see interest from Georgian entrepreneurs in
doing business in Azerbaijan. We are ready to cooperate with
potential investors and businesses to expand economic cooperation,'
he said.
Investment
Likewise, Sarkhan Ismayilov also noted that Azerbaijan has
invested $3.5 billion in the Georgian economy until now. He added
that more than $1.5 billion of investments accounted for the share
of the State Oil Company of Azerbaijan (SOCAR).
'Azerbaijan is Georgia's main trading partner and one of the
largest investors. Our companies, operating in Georgia, have
created thousands of jobs in this country and pay millions of
dollars taxes every year,' he said.
Baku-Batumi flights
Moreover, Zurad Pataradze also noted that the flights between
Azerbaijan's Baku and Georgia's Batumi will be resumed starting
from July 1 this year.
He added that it is planned to resume passenger transportation
by rail from Georgia to Azerbaijan in the future.
Azersun Holding
Azersun Holding CEO Savas Uzan also stated that the holding is
planning to expand its activities in Georgia. He noted that the
company has been operating in Azerbaijan since 1991 and in Georgia
since 1993.
'In Georgia, the company is engaged in both commercial and
industrial activities. We plan to operate in logistics in the
coming years, having already created the relevant infrastructure in
this regard,' he said.
Noting that 2022 marks the 30th anniversary of establishing
diplomatic relations between the two countries, he stated that
during this period, the countries have implemented large investment
and logistics projects, adding that Azersun Holding is doing its
best to be a part of this process.
Azerbaijan and Georgia are collaborating in a variety of
economic spheres. Azerbaijan and Georgia signed a number of
cooperation agreements in 2021 as part of a meeting of the joint
intergovernmental commission on economic cooperation.
In 2021, the two countries' trade turnover totalled $763.6
million, with exports accounting for $661 million and imports
accounting for $102.6 million.
--
Ayya Lmahamad is AzerNews' staff journalist, follow her on
Twitter: @AyyaLmahamad
Follow us on Twitter
@AzerNewsAz
- Tags:
- Azerbaijan
- Georgia
- Alat Free Economic Zone
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