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Official: Romania, Georgia have various co-op opportunities due to similar business climate views

Business Materials 14 June 2020 11:40 (UTC +04:00)
Official: Romania, Georgia have various co-op opportunities due to similar business climate views

BAKU, Azerbaijan, June 14

By Tamilla Mammadova - Trend:

Both Romania and Georgia recognize the importance of a good business environment for investment, a representative of the Embassy of Romania to Georgia told Trend.

Romania secured a sound, healthy economy, enjoying efficient state aid schemes and a competitive tax system – one of the lowest flat tax, VAT and income tax in the European Union (EU), tax exemptions on reinvested profit and income tax exemptions, the official said.

"Romania also has a cost-effective business environment enjoying the fourth lowest gas price and the sixth lowest electricity price in EU and one of the fastest internet in the world, with great broadband infrastructure," the official noted.

The source noted that the membership of Romania in the European Union provides for all the advantages deriving from the common rules of European internal market, one of the most open in the world.

In turn, in the official's words, friendly business climate in Georgia stands for solid ground in achieving sustainable global competitiveness, being designed to cope with the international business community need for successful projects to be implemented.

The official said that Romania and Georgia recognize the importance of a good business environment for investment.

Thus, due to the similar good business environment for investment, great opportunities are opening for countries' bilateral cooperation in manufacturing, research and development, transport and logistics, communication, information technology, innovations, agriculture, energy and construction, the official said.

Diplomatic relations between Georgia and Romania were established on 25 June,1992.

Legal framework between the two countries regulates almost every direction of cooperation, including economy, tourism, agriculture, maritime trade, culture, science, sports, and the fight against serious crimes. Cooperation in the fields of trade, economic development, energy and transport are high on the agenda.

Romania strongly supports Georgia`s European and Euro-Atlantic aspirations. Romania was the first Member State of the European Union, who has ratified the Association Agreement between Georgia and European Union.

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