Number Of Free Trade Agreements In Georgia Grows - Deputy Economy Minister

10/10/2024 5:13:08 AM

(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 10. Georgia is constantly expanding the geography of countries with which free trade agreements are concluded, the Georgian Deputy Economy Minister Irakli Nadareishvili said during the“INMerge Innovation Summit” organized by PASHA Holding for the fourth time, Trend reports.

“Georgia is a small country with a population of only 3.7 million people, which is a weak point in terms of investment attractiveness. However, we have managed to compensate for this shortcoming thanks to the continuous expansion of the ecosystem of free trade agreements we conclude with other countries,” he noted.

According to him, Georgia engages in commerce with states comprising a total population of 2.3 billion, which maintain tariff-free trade agreements with Georgia.

“Georgia has been purposefully creating favorable conditions for business and investment for many years. The World Bank last week published a new business environment ranking, now called Business Ready, and we are in the top three, along with Estonia and Singapore. This index assesses many aspects, including conditions for starting a business, government services, tax policy, dispute resolution,, and market competition. Despite the complexity of the criteria, we, a small country, managed to occupy one of the top lines of the rating,” he added.

To note, "INMerge Innovation Summit", organized by PASHA Holding, aims to contribute to the development of the innovation ecosystem in Azerbaijan by bringing together startups and investors, providing opportunities for cooperation, as well as creating a platform for the exchange of ideas and experience between all participants of the innovation ecosystem.

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