US remains second largest investor in Georgia - minister

Finance Materials 23 June 2020 15:34 (UTC +04:00)
US remains second largest investor in Georgia - minister

BAKU, Azerbaijan, June 23

By Tamilla Mammadova – Trend:

Investments from the United States to Georgia have increased by 34 percent in the first quarter of 2020 year-on-year, said Georgian Minister of Economy Natia Turnava, Trend reports referring to Georgian Ministry of Economy and Sustainable Development.

She made the remark after a meeting with US Ambassador to Georgia Kelly Degnan.

According to Turnava, the US has become the second largest investor of Georgia with a 17-percent share.

During the meeting, Turnava and Degnan discussed trade and economic relations between the two countries. It was noted that two important events have been postponed including the meeting of the Charter Commission’s Economic, Trade and Energy Working Group scheduled for May 18, 2020, and the US Trade Representative mission visit to Georgia scheduled for June 2020.

Turnava said that the US has always been and still remains the most important strategic partner of Georgia and noted that despite the COVID-19 pandemic, the volume of investments from the US has increased.

The parties also discussed the so-called High Level Trade and Investment Dialogue meeting that also was postponed.

The Georgian minister noted that Georgia is ready to be actively involved in the Economic Prosperity Network initiative announced by the US President in the spring of this year.

"The network will further deepen economic cooperation, which includes the recovery of the global economy in the areas of digital business, energy, infrastructure, trade, education and research. It will include representatives of private companies and civil society from various countries", said Turnava.


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