Zviad Chumburidze Summarizes Results of Georgia-Azerbaijan Business Forum

Representatives of 40 Georgian and 100 Azerbaijan companies attended the Azerbaijan-Georgia business forum in Baku.

It was held by the European Union-Georgia Business Council (EUGBC) in cooperation with the Embassy of Georgia in the Republic of Azerbaijan and the Embassy of the Republic of Azerbaijan in Georgia, as well as the Export and Investment Promotion Agency of the Republic of Azerbaijan.

As the Secretary-General of the EU-Georgia Business Council, Zviad Chumburidze, stated, the parties agreed that the forum will become annual. According to him, this was the first time when Georgian businesses offered cooperation in all directions to the business sector of Azerbaijan.

"Our export to Azerbaijan is more than 500 million. From the side of Azerbaijan, up to 600 million, but there is potential for more. All sectors were covered from Azerbaijan's side. This was the first time when Georgian business offered Azerbaijan business sector cooperation in all directions. There was interest in all directions, namely tourism, real estate, free industrial zones, transport and logistics and all major directions and work is needed in all sectors. We also agreed with Azerbaijan that the forum should be annual. Our goal is to meet directly with representatives of the business sector to facilitate direct contact. When business meets business, more perspectives appear," said Zviad Chumburidze at BM.ge.

As for the cooperation, the executive director of the Hualing Free Industrial Zone, Soso Nibladze, named a specific project where the Azerbaijani and Georgian sides will cooperate.

"At the event, we signed a memorandum of understanding regarding one of the big projects. This is an area near Baku, where a port and a free economic zone are being developed with a large investment (about 500 million investment).

This project was initiated by the Azerbaijani authorities about 2 years ago, and we are working with them. We have signed an agreement. The entire government of Azerbaijan will ensure the development and operation of this infrastructure. We have signed a memorandum of cooperation with them, which means that we will actively start cooperating with each other and jointly present ourselves on the investment markets," Zviad Chumburidze added.