TODAY.AZ / Business

Country main investor in Georgian economy

16 August 2019 [16:53] - TODAY.AZ

By Azernews


By Mirsaid Ibrahimzade

Azerbaijan and Georgia doggedly expand cooperation in different fields, especially in energy and transport sectors. As a result of the fruitful activity, statistics on the volumes of investments and trade turnover continue to increase.

The National Statistics Office of Georgia stated in its report that Azerbaijan became Georgia's major foreign direct investor in 2018.

The report reads that Azerbaijan invested $264.4 million in Georgia last year. The country’s share in the total foreign direct investments (FDI) made in Georgia accounted for 19.6 percent.

In general, $1.26 billion was invested in the economy of the neighboring country in 2018. The other leaders in FDI in Georgia are the Netherlands ($208 million, 16.5 percent) and the UK ($179 million, 14.1 percent).

Azerbaijan is also one of the main trade partners of Georgia. The trade turnover between the two countries reached $508.9 million in January-June this year.

Georgia exported goods worth $211 million to Azerbaijan, which is 3.7 percent more than in the same period last year.

At the same time, Georgia imported goods worth $297 million from Azerbaijan, which is 3.1 percent less year-on-year.

The trade turnover between Georgia and Azerbaijan amounted to $1.1 billion last year. Georgian exports to Azerbaijan amounted to $502.7 million, while Azerbaijan exported goods worth $586 million to the neighboring country.

Currently, economic cooperation is thriving between the states. Azerbaijan and Georgia jointly participate in major projects such as Southern Gas Corridor, Baku-Tbilisi-Ceyhan pipeline (BTC), Baku-Tbilisi-Kars railway (BTK), Transport Corridor Europe-Caucasus-Asia (TRACECA), etc.

The legal framework between Azerbaijan and Georgia includes more than 100 agreements on bilateral cooperation.

URL: http://www.today.az/news/business/185467.html

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