Economy
Posted: 2 weeks ago

Summary of Georgia-Czech Business Forum held in Batumi

Georgia and the Czech Republic work closely together, both bilaterally and multilaterally, and the friendly relations between the two countries are based on common values.

"Our countries will spare no effort to deepen and develop relations in trade, regional cooperation, investment, and other areas," said Irakli Nadareishvili, Deputy Minister of Economy and Sustainable Development, addressing the opening of the Georgia-Czech business forum.

The Deputy Minister paid special attention to the growing trade turnover between the countries, which, according to 2021 data, increased by 31 percent and amounted to 109.5 million GEL. He said there is still the great untapped potential that can be harnessed effectively by both sides.

In his speech, Irakli Nadareishvili spoke about the development trends of the Georgian economy. He said that compared to 2020, in 2021 there was a 10.4 percent increase in real GDP, which underscores the rapid pace of economic recovery in the country.

"We have particularly positive data in the field of tourism. Revenues from travel in January-March 2022 amounted to USD 393.7 million. Progress in the export of Georgian products reached a record high in 2021 and increased by 27% compared to 2020. Improvement of current economic trends is shown by the data of the first quarter of 2022, which is 43% higher than the same period last year," - said Irakli Nadareishvili.

According to the Deputy Minister, the Georgian government encourages Georgian export-oriented companies to enter the European market through various mechanisms, including one of the most convenient platforms: tradewithgeorgia.com, which is an online export catalog and can be an important resource for Czech companies interested in Georgian products.

Irakli Nadareishvili welcomed the opening of the CzechTrade Representation in Tbilisi and expressed hope that the organization will play an important role in the future development of trade and investment cooperation between the two countries.

About 200 Georgian and Czech companies are participating in the Georgia-Czech Business Forum. Among them are more than 20 businessmen from the Czech Republic representing construction and development, energy, tourism, medical technology, spatial planning, transport systems, and other sectors.