Azernews.Az

By Nigar Abbasova

Azerbaijan and Georgia, the two neighboring countries with long-standing and successful relations, eye ways to further expand the interaction in the economic field.

To this end, a delegation led by Azerbaijani Economy Minister Shahin Mustafayev is in Georgia to meet with the country’s authorizes.

Georgian President Giorgi Margvelashvili, who received the Azerbaijani minister on October 28, said that Azerbaijan and Georgia are strategic partners, voicing hope that the visit will serve to further development of relations in all areas and strengthening of the strategic partnership.

Margvelashvili said that his country attaches great importance to cooperation with Azerbaijan.

The sides exchanged views on the fields of policy, economy, defense and other areas between Azerbaijan and Georgia.

Mustafayev, earlier met with his Georgian counterpart Dimitri Kumsishvili, who said that the partnership between the two countries bears strategic character, mentioning that friendly relations between nations, state and government leaders create opportunities for the comprehensive development of the bilateral relations.

Kumsishvili also spoke about a number of projects, which are expected to be implemented jointly, emphasizing that the projects may contribute to further strengthening of the strategic partnership.

Mustafayev, in turn, said that large-scale regional projects realized with the participation of Azerbaijan contribute to the regional development, peace and security, stressing the importance of joint support of each other in international events.

Azerbaijan has invested almost $1.7 billion in Georgia’s economy since 2006, including $283 million since early 2016. The highest indicator of Azerbaijani investments in Georgia, which stands at $550 million, was reached in 2015.

The trade turnover between Azerbaijan and Georgia amounted to $244.58 million in January-September 2016, according to Azerbaijan’s State Customs Committee.

Georgia with $221.83 million (3.39 percent of the total volume of Azerbaijani export) ranks the ninth in the list of main importers from Azerbaijan.

Azerbaijan mainly exports petroleum, petroleum oils and gases, gypsum, anhydrite, plaster and other products to Georgia, while motor cars, live bovine animals, bars and rods of iron, as well as cement, make up the majority of imported goods from Georgia to Azerbaijan. Moreover, Azerbaijan’s state oil company SOCAR is deeply involved in the energy market in the neighboring South Caucasus republic.

Georgia and Azerbaijan established diplomatic relations in 1992. The countries are actively cooperating in trade, transport and energy spheres.

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Nigar Abbasova is AzerNews’ staff journalist, follow her on Twitter: @nigyar_abbasova

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