Armenian-Georgian Business Forum

Armenian-Georgian Business Forum

Within the framework of the preliminary meeting and arrangements of Prime Ministers of Armenia and Georgia, a Georgian business delegation visited Armenia – headed by the Minister of Economy and Sustainable Development of Georgia. On June 29, a business forum took place in Milano Hall, DoubleTree by Hilton Yerevan City Centre. The Ministers of both countries were present, as well as the Presidents of Chambers of Commerce and Industry, other officials and businesspeople.

The President of CCI of RA highlighted the importance of deepening the trade-economic relations with Georgia for it to be a significant issue for the development of national economies of both countries. According to him, the volumes of trade turnovers of both Armenia and Georgia are not small, however there are opportunities in a number of unused and yet prospective directions.

Martin Sargsyan presented statistical data on trade-turnover between Armenia and Georgia. He mentioned that in 2016 the exports from Armenia to Georgia had amounted 148 million USD, and the imports from Georgia had been of amount 104 million USD. In comparison with the year 2015, exports had increased by 18 and imports by 37 percent. Nevertheless, Georgia forms only 5% of Armenia’s trade-turnover. Regarding the use of new opportunities Mr. Sargsyan mentioned, “In this regard the free economic zones of Georgia and Syunik are of great importance. Georgian businesspeople will have an opportunity to sell their products in EAEU or Iranian markets by investing in Syunik or creating joint ventures there, and the opposite – Armenian businesspeople will have an opportunity to enter the EU market through Georgian free economic zone. “

In the framework of Armenian-Georgian business forum Armenian and Georgian Chambers of Commerce and Industry signed a Memorandum of Understanding. The President of Georgian CCI – Nino Chikovani mentioned that the memorandum is aimed at supporting the companies of both countries (as the Ministers of Economy of both countries had already mentioned).

At the plenary session, during round tables and B2B meetings, questions regarding construction, healthcare, tourism, free economic zones and other spheres were being discussed.

Both Armenia’s and Georgia’s business and investment climate was introduced through presentations.

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