Dimitri Kumsishvili visited Shanghai Techno Park

Published in Economics
Tuesday, 26 July 2016 17:03

The First Vice-Prime Minister Dimitri Kumsishvili visited Shanghai Techno Park. According to the Ministry of Economy and Sustainable Development of Georgia, the park was founded in 1992 and is one of the best techno parks in China.
As Kumsishvili said, one of the priorities is industrial and innovative development of Georgia. It is very important to share the experience of Shanghai techno park. 

Agreement signed between Rustavi Nitrogen and EBRD

Published in Economics
Wednesday, 20 July 2016 15:42

First Vice Prime Minister, Minister of Economy and Sustainable Development of Georgia Dimitri Kumsishvili with the representatives of Georgian Government attended the agreement signing ceremony between Rustavi Nitrogen and EBRD. The ceremony was held in Tbilisi Marriott. The agreement provides funding 155 000000 US dollars to Rustavi Nitrogen which will be used for rehabilitation and modernization of ammonia production line.
The company named Rustavi Nitrogen is one of the biggest employers in Georgia. 

Dimitri Kumsishvili met with his Turkish Counterpart

Published in Politics
Wednesday, 20 July 2016 15:36

In the frames of visit in Turkey, the First Vice-Prime Minister, the Minister of Economy and Sustainable Development of Georgia Dimitri Kumsishvili met with his Turkish Counterpart.
At the beginning, the First Deputy Prime Minister, expressed his deep condolences over the latest developments in Turkey and expressed his condolences to the families and friends of the dead and injured. According to him, strong and democratic Turkey is an extremely important issue for development and maintaining stability in the region.
Dimitry Kumsishvili said, that relation between Georgia and Turkey is a good example of how they can develop the economic cooperation between the two countries. 

Signing Ceremony in Turkey

Published in Politics
Wednesday, 20 July 2016 10:07

Governments of Georgia and Turkey agreed upon establishing high level Strategic Partnership Council - Prime Minister of Georgia Giorgi Kvirikashvili and Prime Minister of Turkey Binali Yildirim signed respective document. The signing ceremony as held within the frames of official visit of the Prime Minister of Georgia to Turkey.
The Governments of Georgia and Turkey enhance cooperation through mutual support and protection of the investments.
The new agreement "between Georgia and the Republic of Turkey on Mutual Support and Protection of Investments" signed by the Minister of Economy and Sustainable Development of Georgia Dimitri Kumsishvili, will foster investors from the both countries to undertake investments. It will further ensure stimulation of entrepreneurial initiatives, economic development of the parties to the Agreement and effective utilization of economic resources. 
To develop shipments and transportation using the railway vehicle, the draft of the "Framework Agreement on Railway Shipping and Transportation between the Government of the Republic of Turkey and the Government of Georgia" was signed.
The Governments of the two countries agreed upon the cooperation in the areas of labor, social protection and employment. The Ministry of Healthcare David Sergeenko signed the agreement. The Memorandum of Understanding in the area of Corrections between the Ministry of Justice of Turkey and Ministry of Corrections and Legal Assistance of Georgia was signed today. The document was signed by Minister of Corrections and Legal Assistance Kakha Kakhishvili.

Prime Minister of Georgia held a meeting with the Minister of Transport and Communications of Armenia

Published in Economics
Wednesday, 06 July 2016 17:30

Prime Minister of Georgia held a meeting with the Minister of Transport and Communications of Armenia Gagik Beglaryan. During the conversation the parties touched upon shipping of cargo through transit corridor as well as highways - their development in accordance with the international standards is a state priority. E-60 transit corridor, as well as Mtskheta-Stepantsminda_Larsi and Tbilisi-Bakurtsikhe-Lagodekhi directions were discussed in this context.
Sides underlined that Rustavi-Sadakhlo and Tbilisi-Guguti routes are optimal in view of shipping cargo through Georgia. Perspectives of development of route covering Kashuri-Akhaltsikhe-Ninotsminda and the border of Armenia were also discussed.
The first Vice Prime Minister, Minister of Economy and Sustainable Development Dimitry Kumsishvili, Minister of Regional Development and Infrastructure Nodar Javakhishvili and the head of the Road Department Giorgi Seturidze attended the meeting.

Public funeral of Sulkhan Molashvili

Published in Society
Tuesday, 05 July 2016 16:46

Prime Minister of Georgia attended the public funeral of former Chair of Georgia's Chamber of Control Sulkhan Molashvili held at Kashveti Church. As you know, The former Chairman of the Chamber of Control of Georgia Sulkhan Molashvili died a few days ago. According to his brother, Tornike Molashvili, Sulkhan Molashvili died today at 07:00 a.m. in Paris.
As he said, the cause of death was liver. Molashvili was moved to Paris a few days ago.

A Free Trade Agreement between Georgia and EFTA was signed

Published in Politics
Tuesday, 28 June 2016 15:55

Exactly 2 years after signing the DCFTA with the EU, Georgia has concluded the Free Trade Agreement (the FTA) with European Free Trade Association (EFTA) that encompasses Switzerland, Lichtenstein, Norway and Iceland.
The document was signed today in Bern within the frames of the Prime Minister's visit to the Swiss Confederation and the EFTA Ministerial by the first Vice Prime Minister, Minister of Economy and Sustainable Development Dimitri Kumsishvili as well as Federal President of the Swiss Confederation, the head of the Federal Department of Economic Affairs, Education and Research Johann Schneider-Ammann and Ministers of the EFTA member-states.
The Prime Minister of Georgia attended the ceremony. Giorgi Kvirikashvili considered termination of the negotiations and signing of the FTA as a historic event.
"This happened exactly two years after signing an Agreement on the Deep and Comprehensive Free Trade Area with the EU. I would like to note that we still believe in the EU and are enthusiastic about its future. 
"Georgia and the EFTA countries share a common understanding of the value and importance of free trade. It is the very principle upon which the EFTA was created. With the conviction that free trade is a means of achieving growth and prosperity, EFTA has since the 1960s been a standard bearer for international exchange", -Prime Minister indicated.
Pursuant to Giorgi Kvirikashvili, Georgia's choice of expanding free trade is much. Head of the Government indicated that Georgia celebrates this year 25 years since it regained independence. In 25 years, Georgia has achieved surprisingly much.
"This is particularly true regarding the trade sector: Georgia has a Deep and Comprehensive Free Trade Area agreement with the EU, free trade with Turkey and the CIS countries, a preferential export regime (GSP) with the US, Canada, Japan, and we expect to sign a FTA with China by the end of this year. This means that Georgia will soon have a web of free trade deals covering more than 2 billion consumers.
We have been driven in all our actions by a firm determination to become a free, thriving and dynamic economy, which attracts investors and businesses alike. Today, we are a country with stable democratic institutions, low corruption a simplified tax system and business-friendly legislative environment. I am very proud to say that we have been ranked 9th in the world for ease of doing business by the World Bank and according to the World Economic Forum investors coming to Georgia can enjoy 24th lowest tax burden in the world. The compound annual GDP growth in the past 5 years is 4,9% and all major credit rating agencies consider us stable. Georgia, in sum, is a safe and stimulating place for foreign companies to invest.Georgia is already becoming a regional hub for doing business. 
Geostrategically, we stand in a vitally important location, being at the crossroads between Asia and Europe. The revival of the modern Silk Road, in particular, makes Georgia's future as a trade, logistics and transportation hub, both certain and very promising." - Giorgi Kvirikashvili indicated.
Pursuant to the head of the Government, the FTA signed today is significant as it expands the scope of Georgia's web of free trade agreements. It is also a significant step forward for Georgia to exchange freely with some of the most advanced and free economies in the world.
"I am convinced that our bilateral relations with Switzerland, as well as other three EFTA member states will be further deepened across all sectors and that we will become partners in a much greater sense. This is already, to a large extent, the case today.
Thank you for your attention and I would like to thank the negotiating teams for the comprehensive work they provided. I am glad that the negotiations were finalized in surprisingly short terms," - Prime Minister noted.
"An instrument of further deepening relations" - Federal President of the Swiss Confederation, the head of the Federal Department of Economic Affairs, Education and ResearchJohann Schneider-Ammann assessed signing the FTA with these words. Pursuant to him, the negotiations were initiated in September 2015 and finalized by February 2016.
"The speed of the process as well as the quality of the negotiations is a clear indication of positive relations between our countries as well as good cooperation between the negotiating teams. Georgia and EFTA countries have already established close economic relations - there is a great potential for further expanding these links. We believe that the FTA will become a strong stimulus for development of trade and investments between the economies," - Johann Schneider-Ammann declared and thanked negotiating teams for their commitment to achieve the best results.
The FTA between Georgia and EFTA countries will enable Georgian enterprises to export their goods to a market that covers additional 14 million customers with high purchasing power without tariff and non-tariff barriers.
The agreement trade with goods and services; sanitary and phytosanitary measures; technical barriers to trade; rules of origin, trade promotion and cooperation in customs matters; investments; intellectual property rights; public procurement; competition; trade protection measures and sustainable development.

Dimitri Kumsishvili to hold meeting with Kazakhstan side

Published in Economics
Monday, 06 June 2016 15:10

In the framework of economical commission in Kazakhstan in 9-10 June, the Vice Prime Minister, the Minister of Economy and Sustainable Development of Georgia Dimitri Kumsishvili will hold the meeting with Kazakhstan side to discuss KazTransGas issues. According to Kumsishvili, the aim is very easy – Tbilisi citizens to receive quality services.
“For about KazTransGas, we presented our proposals and I want to hold the meetings to discuss this issue,”-Dimitri Kumsishvili said. A few days ago it was reported that the company KazTransGas may request the return of investments from Georgian side. The company protests in 2009 KazTransGas Tbilisi special manager's appointment and believe that this is the violation of KazTransGas’s, as a foreign investor's rights.

Trade and Investment Council established in Georgia

Published in Economics
Friday, 03 June 2016 15:29

China and Georgia to establish the Trade and Investment Council, whose main task is to attract investment and the development of trade,- the Deputy Prime Minister, Minister of Economy and Sustainable Development Dimitri Kumsishvili said after the meeting with the representatives of the People's Republic of China.
According to Kumsishvili, the counteragent of the agreement is the Ministry of Economy and Sustainable Development of Georgia in our country. According to the minister of the economy, the wine industry was especially highlighted. "As the Prime Minister stated, it is extremely important that the Georgian wine access to the Chinese market. Our Chinese colleagues proved that the wine club is welcome, as it has a high quality of Georgian wine and great tradition ", - said Kumsishvili.

Startup Funding Program to be initiated

Published in Politics
Thursday, 05 May 2016 14:45

The Government of Georgia launches the Startup Funding Program - respective decision was addressed by the Prime Minister prior to the Cabinet session. Pursuant to him, the beneficiary of the Project may be any Georgian citizen, who has an interesting and innovative business proposal and needs funding for its realization. At the first stage of the Program implementation, 11 million GEL will be allocated, later the budget of the Program will be increased to 35 million GEL.
"Today we will approve the basic principles of operation of the startup funding institute that will become functional in a month at the building of the Park of Innovation and Technologies. This is a crucial reform, since it enables startups and innovative or technology-related enterprises to acquire funding without provision of any security or collateral. Notably, this Program also represents the first instance of institutionalization of funding of innovative ideas in Georgia - it will foster development of innovative potential in Georgia. We know many countries, where such type of change became pivotal in terms of economic development of the state and this is a first step on our part, which shall be welcomed," - Prime Minister noted prior to the Cabinet session.
Pursuant to him, the Project is coordinated by the Georgian Partnership Fund and Agency for Innovations and Technologies. International experts will also be engaged in the process of launching the project.

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