Georgia And Saudi Arabia Forge Collaborative Path In Energy Initiatives

The Georgia-Saudi Arabia Business Forum commenced in Tbilisi, marked by the opening speeches of First Vice Prime Minister Levan Davitashvili and Saudi Arabian Minister of Investments Khalid Al-Falih. Attended by around 300 delegates from various sectors, the event focused on strengthening economic relations and fostering collaboration between the two nations.

Davitashvili highlighted Georgia’s commitment to enhancing ties with Saudi Arabia, citing the growing trend in bilateral trade and investments. He expressed the nation’s readiness to actively pursue a Bilateral Investment Treaty and shared insights into Georgia’s economic trends and ongoing infrastructure projects, such as the Anaklia Deep Sea Port and the Black Sea Submarine Power Cable.

The forum included planned B2B meetings, providing a platform for comprehensive discussions on investment opportunities in Georgia. Davitashvili emphasized the importance of the joint business council established last October, facilitating ties and project collaborations.

As Georgia positioned itself as a strategic crossroads between Europe and Asia, Davitashvili showcased the country’s unique opportunities for investors, including a favorable business climate, lower costs, reduced risks, and access to global markets. The event also featured presentations by the Enterprise Georgia Agency, introducing Saudi Arabian delegates to Georgia’s investment environment.

Memoranda of mutual cooperation were exchanged in agriculture, energy, and cultural relations. Panel discussions delved into investment prospects in tourism, real estate, and Georgia’s potential as a transport, logistics, and energy hub.

Davitashvili concluded by affirming Georgia’s commitment to a diversified and modern economy, aligning with Saudi Arabia’s vision for the future. The ministers expressed readiness to deepen mutual cooperation, focusing on an Agreement on Promotion and Protection of Investments and potential free trade negotiations with Gulf countries. The trade turnover between Georgia and Saudi Arabia has witnessed a 25% increase, indicating a positive trajectory in bilateral trade and investment relations.