The Chair of the Budget and Finance Committee, Irakli Kovzanadze held the meeting with the representatives of IMF Technical Mission, Ellen Gaston, Göran Lind and Ross Henderson.
The parties discussed enhancement of oversight and regulation of bank and non-bank finance sector and improvement methods. The parties expressed opinions about non-profile assets of banks, regulation of activity of micro-financial organizations, other credit institutions, protection of rights of their customers and competitiveness on market.
I. Kovzanadze underlined importance of cooperation between the National Bank and Government for sustainability of financial sector. He introduced the economic growth index, 4-point Governmental plan for reforming and mian objectives of financial-economic policy, as well as touched upon importance of cooperation with IMF. IMF resumed cooperation with Georgia, endorsed the 3-year economic program and allocated 285,3 million for Georgia.
The Chair of the Budget and Finance Committee, Irakli Kovzanadze held the meeting with the Ambassador of Turkey, H.E. Zeki Levent Gümrükçü.
The parties noted that Turkey is the main trade partner of Georgia and underlined importance of strategic partnership of Georgia and Turkey and further enlargement of economic cooperation.
The parties discussed business relations and prospects, Georgia-Turkey Free Trade Agreement, obligations of the parties and other relevant issues. I. Kovzanadze introduced the drafts under development in the Parliament – the changes to the Free Trade Agreement between Georgia and Turkey, allowing Georgian companies enjoying the free trade area preferences with EU even when the production is produced with Turkish material.
I. Kovzanadze spoke about the finance and economic policy of the Government and main objectives: priority directions and ongoing infrastructural projects with Turkish investments and with participation of Turkish companies.
The Delegation of the Budget and Finance Committee and State Audit Service Headed by the Chair of the Committee, Irakli Kovzanadze serves the working visit to Germany. The high level meetings are scheduled in Bundestag, Ministry of Finance and Audit Service, as well as with the President of the Audit Service of Germany.
The Delegation will be cognizant with the experience of Germany in cooperation between the Audit Agencies and Parliament; as well as the role of the Bundestag and Audit Service in the national anti-corruption system.
The parties will discuss the budget control mechanisms, basis of cooperation between German Audit Service and Parliament etc. “We have the high level meetings scheduled in Germany. The visit aims at sharing German experience in budgetary processes and budgetary control mechanism. Sharing German experience will be important as well for enhancement of cooperation between the budget control institutions in Georgia. We aspire to achieve better transparency in activity of hereof systems and in terms of Parliamentary oversight. German experience is very interesting for us in this term”, - I. Kovzanadze stated.
The Delegation is composed of the Head of Audit Service, Lasha Tordia, Deputy-Finance Minister, Giorgi Kakauridze and the representatives of Budget and Finance Committee and SAS.
The Chair of the Budget and Finance Committee, Mr. Irakli Kovzanadze held the meeting with the Head of the GIZ program “Public Finance Management in South Caucasus” and the PFM Advisor, Inga Sinjikashvili.
The parties discussed PFM program implementation and noted that GIZ program will facilitate the Committee to improve the institutional cooperation with the State Audit Service and implement budgetary oversight. The program aims at capacity building of the Parliament as in the budgetary oversight so in budget formation process. The program envisages cooperation with the Ministry of Finance of Georgia and the Audit Service.
The parties discussed future cooperation and vocational qualification of the employees. “The meeting was very interesting. It is the cooperation as in state audit terms, so in budgetary and finance terms. This cooperation and their international experience will be important for our Committee during the next 4 years”, - I. Kovzanadze stated.
The Chair of the Budget and Finance Committee, Mr. Irakli Kovzanadze held the meeting with the EU Ambassador to Georgia, Mr. Janos Herman.
Mr. Kovzanadze introduced the activity and the functions of the Committee. The parties discussed cooperation of the Committee with the Government, the National Bank and the State Audit Service. I. Kovzanadze spoke about the practice and future plans of cooperation with international fiscal institutions.
“It was an interesting meeting. We expressed commitment for future cooperation and exchanged information about various issues. We are committed to further develop there directions with EU involvement”, - I. Kovzanadze stated.