Home / Economy / George Kobulia and UK Minister of State for Trade Policy Discussed Bilateral Trade Development

George Kobulia and UK Minister of State for Trade Policy Discussed Bilateral Trade Development

Development of the bilateral trade relations and the prospects of attracting the UK investments to Georgia were discussed during the meeting.

Significance of the Wardrop Strategic Dialogue, which provide the platform for the discussion of the prospects of cooperation in the different fields including economic issues, investments, etc. was particularly highlighted at the meeting.  As it was noted, the annual session of the Wardrop Strategic Dialogue in Tbilisi is scheduled to be held in November 2018 where the participants will have the opportunity to discuss the aspects of further development of the economic and trade ties and cooperation in terms of investments.

The Minister of Economy and Sustainable Development of Georgia, George Kobulia gave more than positive evaluation of the visit of the UK Trade Mission several months ago, when the meetings were held with Georgia’s state and private sector representatives. According to George Kobulia, such trade missions will contribute to expanding of the economic cooperation and attracting of investments into the Georgian economy.

It was noted at the meeting that the United Kingdom has been one of the important trading partners to Georgia for years. In 8 months of 2018, bilateral trade turnover was increased by 14 % while the exports – by 37%. As it was stressed, the real potential is much larger and the parties should make efforts to deepen trade and economic cooperation between the countries. According to the Georgian side, on the background of the Brexit, Georgia finds of particular importance to further develop bilateral relations with the UK and especially in terms of transferring the signed agreements with the EU into the bilateral format. It was noted that the preparatory works are underway with involvement of the relevant agencies.

The meeting also discussed the development of cooperation in other sectors of economy, including tourism. It was noted that the development of bilateral air traffic and the appointment of new regular flights significantly increased the number of tourists from the UK to Georgia. In 2017, the growth reached 45%, while in 9 months of 2018 it is increased by 43%.

The meeting also focused on facilitation of the development of the bilateral business relations.