Azerbaijan, Georgia to mull prospects of economic co-op

Economy Materials 28 October 2016 09:54 (UTC +04:00)

Baku, Azerbaijan, Oct. 28

By Anvar Mammadov – Trend:

Azerbaijan and Georgia will discuss prospects of expanding economic cooperation between the two countries, said Azerbaijan’s Economy Ministry in a message.

The two sides will hold discussions on Oct. 27-28 as part of Azerbaijani delegation’s visit to Georgia in line with Azerbaijani President Ilham Aliyev’s instruction, said the message.

During the visit, the Azerbaijani delegation led by the country’s Economy Minister Shahin Mustafayev will hold a number of meetings with Georgian officials and an exchange of views will be held on development of relations between Azerbaijan and Georgia.

Azerbaijan has invested almost $1.7 billion in Georgia’s economy since 2006, including $283 million since early 2016. In 2015, Azerbaijan invested $550 million in the neighboring country’s economy. This is highest indicator of Azerbaijani investments in Georgia.

Trade turnover between Azerbaijan and Georgia amounted to $244.58 million in January-September 2016, according to Azerbaijan’s State Customs Committee.

Georgia with $221.83 million (3.39 percent of the total volume of Azerbaijani export) ranks the ninth in the list of main importers from Azerbaijan.