Georgian investors interested in Azerbaijan's economy

The delegation was headed by President and Editor-in-Chief of Caspian Energy IPH (Senior Vice-President of CIBC-Group) Natalya Aliyeva and President of the Caspian Transport Club (enters in CIBC-Group) Abulfaz Hajiyev. Through the meeting the parties discussed the possibilities of CIBC business expansion across Georgia.

According to Z. Nogaideli, Azerbaijan entrepreneurs will apparently become one of the major investment partners of Georgia.

He reminded that last year SOCAR had purchased the port oil terminal on the Black Sea shore where the intensive work is underway up to now and includes laying a railroad and completing the terminal itself.

"By summer 2007 the railway line will be complete and become one more route intended for Azerbaijan oil delivery to world's markets," Z. Nogaideli underscored.

He also added that the International Bank of Azerbaijan had already obtained a general license and has been actively integrating into the Georgia's banking market.

"I think these concrete proposals will be followed by other Azerbaijani investments in the Georgian economy. Georgia's economy is fully open to Azerbaijani investors," Z. Nogaideli said.

"We are working to attract Georgian investors to Azerbaijani economy. Many investors are interested in this business, they are working with their partners and this process does go on. This is a banking sector, processing industry and other sectors of economy as well," Z. Nogaideli resumed.

/APA/