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A high-profile UAE delegation led by His Excellency Sultan Bin Saeed Al Mansouri, Minister of Economy, has marked an emphatic participation at the UAE-Georgia Business Forum held in Tiblisi. The forum aimed to bring together public and private sector representatives from both the UAE and Georgia to explore potential cooperation opportunities in trade, industry and investment domains.
Addressing the three-day forum, Al Mansouri said: “We see tremendous new opportunities emerging daily that can be efficiently leveraged for the wider engagement and growth of our two countries. This forum can serve as a valuable opportunity to further strengthen trade relations and explore new synergies between business communities in Georgia and the UAE.”
He added: “Both our countries enjoy great advantages that we need to leverage for our bilateral relationship to achieve the level of maturity it deserves. The UAE can serve as a gateway to the markets in the MENA region and Asia, while Georgia is strategically located at the crossroads between Asia and Europe. Both countries have ambitious growth plans and are determined to succeed with strategic visions in place to achieve their goals. There are numerous benefits to be leveraged from working together to achieve our shared aspirations for the mutual benefit of our people.”
During the forum, the Minister of Economy highlighted the key advances that the UAE economy has achieved and elaborated on the UAE’s enabling, business-friendly environment that boasts modern legislations and an advanced urban infrastructure.
His Excellency Irakli Garibashvili, Georgian Prime Minister, welcomed the UAE delegation and stressed his keenness to strengthen economic, trade and investment ties with the UAE. The Georgian Prime Minister also provided an overview of the potential his country holds in a number of sectors, highlighting Georgia’s improved investment environment and the benefits offered to foreign investors.
Garibashvili Said: “The UAE’s economic growth and diversification serves as a model for Georgia – as we aim to take advantage of our strategic position between Europe and Asia and revitalize our role in trade across the Eurasian continent. Georgia, like the UAE, is growing as a regional center for commerce and trade, and there is great potential to leverage our location to increasingly serve as a hub between Europe and Asia. We are taking a number of specific steps to build strong relationships with all of our regional partners”
The UAE is among the top contributors to foreign direct investment in Georgia. The FDI inflow into the Georgian economy from the UAE since 2007 is estimated to be more than US$0.7 billion. UAE investments in Georgia span a range of vital sectors, including hospitality, retail, and logistics.
Georgia is currently promoting investment opportunities in tourism, agriculture, transport and energy. The country also offers strong potential in hydropower projects with more than 70 rivers. Additionally, Georgia offers a strong real estate sector and flourishing tourism opportunities. The availability of abundant water resources, moderate climate, fertile lands, and low operating costs are considered major attraction points for investments in the agriculture and food sectors that are of interest to a majority of the UAE’s investors.
The UAE delegation to Georgia includes representatives from the Ministry of Economy, the UAE International Investors Council, Sharjah Chamber of Commerce and Industry, Department of Economic Development – Abu Dhabi, Dubai Exports, Abu Dhabi Ports Company, and leading business representatives.
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