Georgia, Tbilisi, Feb.17 /Trend, N. Kirtskhalia /
A Georgian-Hungarian agreement on avoidance of double taxation was signed during the visit of a Georgian government delegation led by the country's Prime Minister Nika Gilauri to Hungary.
According to the Georgian government, the agreement was signed by both countries' finance ministers.
As Georgian Finance Minister Dmitry Gvindadze said after signing the document, this agreement will remove barriers in both countries' relations in the path of economic cooperation.
"The agreement to avoid double taxation will dramatically increase the flow of Hungarian investments in the Georgian economy and contribute to trade facilitation between the two countries", Mr Gvindadze said in an interview with Georgian journalists in Budapest.
In turn, Minister Gilauri described the signing of the agreement as an "important moment" in the economic relations of Georgia and Hungary. "We hope that this agreement, which exempts the Hungarian business from double taxation, contribute the flow of this country's investments to Georgia," he said.
During his visit Mr Gilauri held meetings in Budapest with President Paul Schmitt, Hungarian Prime Minister Viktor Orban, as well as Speaker Laszlo Kover.