Kazakhstan invests over $70M in Georgia (Exclusive)
Baku, Azerbaijan, September 23
By Tamilla Mammadova – Trend:
In 2005-2018, Kazakhstan made investments in the amount of $78.4 in Georgia, Ministry of National Economy of the Republic of Kazakhstan told Trend.
According to a source of the ministry, in the first quarter of 2019, the Georgian investments in the Kazakh economy increased by 7.6 percent compared to the same period last year,.
“The legal basis for investment cooperation between Kazakhstan and Georgia is the agreement between the governments of Kazakhstan and Georgia on the promotion and mutual protection of investments signed on September 17, 1996,” the ministry said.
Earlier, former Prime Minister of Georgia Mamuka Bakhtazde noted that Kazakhstan is one of the most important partners for Georgia; the countries are connected both by political relations and ties between peoples, and there is great potential for increasing cooperation in the economic sphere.
Diplomatic relations between Georgia and Kazakhstan were established on July 24, 1992. Countries are actively cooperating in the fields of trade, energy and transport.