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Agreement is Achieved on Georgia’s Debt Towards Kazakhstan

Agreement is Achieved on Georgia’s Debt Towards Kazakhstan

The negotiations have been productive within the frame of Economic Commission, – Economy Minister Dimitri Kumsishvili has declared while delivering a speech at Countries Intergovernmental Commission.

According to him, the sides have agreed on such issues which have been unsolved for along time. One of them is Georgia’s debt towards Kazakhstan. Namely, the sides have agreed on charging mechanism of interest. As of official data of Ministry of Finance, the debt is 27,7 million towards Kazakhstan. It should be noted, that Kazakh side plans to make changes in terms of transit potential development, in order to become more competitive and attractive the potential of the Trans-Caspian corridor (via Georgia, Azerbaijan and Kazakhstan) in direction of multimodal transportation.

Dimitri Kumsishvili has talked about the macro economic environment and business attractiveness in Georgia. Kumsishvili declares, that the EU association agreement might create favorable conditions for Kazakh business, which decide to work in Georgia. Asset Isekeshev, minister of Kazakh Investments and Development made a report at the session of the Commission.

As of him, the Commission has determined priority directions of two countries, including investments, agriculture, energy, tourism and etc. As noted, development of Trans-Caspian corridor is very important for Kazakhstan, which means to get closer Chinese and European markets. It should be noted, that the bilateral Trade-Economic commission will be held in Tbilisi in 2017.