In Yerevan, Prime Minister of Georgia met, Prime Minister of Armenia
Published in
Politics
Friday, 13 January 2023 10:27
In Yerevan, Irakli Garibashvili, Prime Minister of Georgia met Nikol Pashinyan, Prime Minister of the Republic of Armenia today. Face to face meeting held within the scope of a Working Visit of the Head of Government of Georgia to the Republic of Armenia, was focused on the discussion of key areas of cooperation between the two countries and topics of regional significance. Role played by the Intergovernmental Economic Commission was highlighted, as it is an important platform for strengthening connections between our countries.
It was noted that Economic Commission is co-chaired by Prime Ministers to evidence a high level of political dialogue existing between Georgia and the Republic of Armenia.
Discussion was also related to the security environment and challenges faced in the region and around the world. Prime Minister of Georgia expressed readiness to play a role of a mediator again to ensure peace and stability between the neighboring countries.
Press Service of the Government Administration
Prime Minister Irakli Garibashvili sets out on a working visit to the Republic of Armenia
Published in
Politics
Thursday, 12 January 2023 13:55
Georgian Prime Minister Irakli Garibashvili, accompanied by a delegation, has departed on a working visit to the Republic of Armenia.
Within the scope of the visit, a meeting of the Georgia-Armenia Intergovernmental Economic Commission will be held and chaired by the Prime Ministers of Georgia and the Republic of Armenia.
High-level bilateral meetings are also scheduled to be held.
Led by Prime Minister Irakli Garibashvili, the delegation consists of Vice Prime Minister/Minister of Economy and Sustainable Development Levan Davitashvili, Foreign Minister Ilia Darchiashvili, Minister of Regional Development and Infrastructure Irakli Karseladze, and Head of the Government Administration Revaz Javelidze.
Press Service of the Government Administration
Prime Minister meets French Ambassador to Georgia
Published in
Politics
Wednesday, 11 January 2023 15:07
Georgian Prime Minister Irakli Garibashvili met with Sheraz Gasri, Ambassador of France to Georgia.
The conversation at the introductory meeting focused on the current relations and prospects of future cooperation between Georgia and France.
It was noted that France is Georgia’s friend and reliable partner. The Head of Government thanked the French Ambassador for firmly supporting Georgia’s sovereignty and territorial integrity, and the policy of non-recognition.
Emphasis at the meeting was placed on the significance of France’s support for Georgia’s EU and NATO integration. It was underlined that Georgia will continue supporting European values and its constructive role in upholding peace and stability in the region.
Press Service of the Government Administration
Executive Government Meeting Gets Held and Led by Prime Minister of Georgia
Published in
Politics
Monday, 09 January 2023 17:27
Irakli Garibashvili, Prime Minister of Georgia held and led an Executive Government Meeting at the Government Administration today.
Members of the Cabinet of Ministers discussed 5 agenda items.
Discussion topics included a Draft Government Decree on the attraction of funding for the Feasibility Study of the Submarine Black Sea Power Transmission Project.
Namely, work has started on a project with an initiative of Georgia, which implies the interconnection of the Caucasus region and Europe through a high-voltage submarine electricity cable and namely it aims to connect the Georgian and Romanian power grids via a submarine electricity transmission line to be constructed in the basin of the Black Sea.
Due Diligence is being performed at present. Funding has been allocated for it in the volume of 2.5 million Euros and study is scheduled to be completed at the end of the current year.
At the same time, the Ministry of Finance of Georgia will approach the World Bank in line with a decision of the Government of Georgia on the allocation of 75 MLN USD for the Feasibility Study to be carried out for the Black Sea Submarine Power Transmission Project. Preliminary agreement has already been reached with the World Bank on the volume and aim of the funding.
One more agenda item discussed at the Executive Government Meeting today was a Draft Government Decree on the Agreements to be concluded by and between the Government of Georgia and Adjara Energy 2007 LLC on the Imereti Wind Power Plant.
According to the referred Government Decree, draft agreement approved by the Government of Georgia intended for the comprehensive Feasibility Study on the Imereti Wind Power Plan of the Imereti region identified as a Public-Private Partnership (PPP) complies with the applicable legislation on the country. Timeline of 24 months is envisaged from the signing of the referred agreement for the implementation of preparatory works.
Capacity of the power plant is 50 megawatts, with generation potential of 180.89 million kilowatts/hr, while the required investment amounts to 66 MLN USD.
Press Service of the Government Administration
Prime Minister of Georgia Wishing Happy New Year to the Nation!
Published in
Society
Tuesday, 03 January 2023 10:24
Irakli Garibashvili, Prime Minister of Georgia Wishing Happy New Year to the Nation:
My dear fellow citizens, we bid farewell to yet another year and it was not an easy one, bringing a lot of pain, leaving traces of hardship and risks in our memory. Nevertheless, we had success and progress as well and in every direction. We all together, being reasonable and prudent – and what is most important – in peace and stability – passed this year and look ahead to the entry of the new 2023 with hope.
Georgia made a historic step forward this year by making its application for accession to the European Union. The European Council recognized the European Perspective of Georgia. With its unique culture and traditions, Georgia will ultimately become a fully-fledged member of the common European family!
Traditionally, I wish to express my gratitude to all those people, who have been serving our nation and its best interests with their dedication, hard work, selflessness, professionalism and sincere affection.
I wish Happy New Year to our heroic servicemen fighting for the independence, defense, security and freedom of our homeland, as well as our heroic policemen, security servicemen, our officers and fire-fighters. I wish to extend my gratitude to our medical doctors and healthcare professionals at large, our teachers and professors, scientists, representatives of arts and culture, our praiseworthy sportsmen, civil servants. Our country is proud of your dedication and hard work!
I wish Happy New Year to our veterans, our distinguished elderly generation and future ones – children and youth. With overwhelming warmth and affection, I wish Happy New Year to our compatriots living and working overseas – our Diaspora, who are not disconnecting themselves from Georgian roots.
I also wish Happy New Year to Ukrainian brothers and sisters, as well as their children living in Georgia. I wish them a quick end to the war and a peaceful return to their motherland.
I congratulate each member of our great ethnic, cultural and religious diversity, who make a priceless contribution to the progress of our country.
Last year turned out to be one of the most difficult ones in terms of our geopolitical risks. War waged in Ukraine not only changed the lives of a lot of people and their families, but created a completely new geopolitical reality in our country, Europe and the entire world.
By conceptualizing these challenges and risks, we pursued our policies and made decisions, acted and spoke only in the best interests of our people and homeland. In this, we have been guided by the notion of stability, security and better future of our nation.
Concrete result of this prudent and result-oriented policy is peace, stability and unprecedented economic growth, which will enable our people to gain more opportunities of wellbeing and welfare.
Our national interests, security of state and people, its stable future are the core and main basis of the strategy pursued by our government.
Georgian people have always been measuring great wit with due reason. Government of a small, historically much-troubled nation needs to demonstrate due reasoning and prudence in the current widely-risky environment.
Population of Georgia, including our compatriots living in the occupied territories of our country – our Abkhaz and Ossetian brothers – increasingly tend to understand that with higher rate of stability, peace, security and development, Georgia is a desired home for them as well, as they will also benefit from all those gains and achievements in a secure manner that is created with the European Perspective of our country and will further more develop in future.
I strongly believe that we will live together again in a strong Georgia. Once again, I wish to congratulate our Abkhaz and Ossetian brothers and sisters with the coming New Year!
Freedom-loving and proud Georgian people are not accustomed to surrender or acceptance of the unwanted. With our new vision, ambitious, wide-scale plans and projects, we welcome 2023 year with greater daring in anticipation of a better, more successful, much more abundant and peaceful year.
Advancement of our common homeland, its stability, sound health of its people and their social welfare has been and will remain to be the main aim and goal of our governance. We will altogether overcome all the domestic and external barriers and challenges. We will altogether cope with every difficulty experienced by our people and country, and will continue advancing and empowering our nation.
Dear Friends, our society understands is well what is needed today for the progress and prosperity of our country. We understand the conceptualized needs of our people and we are delivering on the will of our people. We serve only the best interests of Georgia.
Gratitude is one of the precious virtues of the Georgian people, while hope and freedom are part of our identity. That is why, let us bid farewell to 2022 and welcome 2023 with hope, positive mindset and daring.
Once again, let me wish you all and your families a Happy New Year with all my sincerity! Let it bring a nation-wide unity, peace, materializing hopes, greater love, mutual respect, prosperity and success!
God be our protector!
Irakli Garibashvili
Prime Minister of Georgia
Performance Report of Irakli Garibashvili, Prime Minister of Georgia for 2022
Published in
Politics
Wednesday, 28 December 2022 11:02
Ladies and Gentlemen,
Let me greet you all! First of all, I wish to thank you all for being here today. I wanted to report back to our society and you. Once again, it is a great honor to be here. We have all been through a very challenging time and the Government, along with Parliament and society at large were engaged in the management of this process. Ultimately, our country has exited victoriously at this point in time.
Initially, I wish to start with an overview of the region. Unprecedented challenge and crisis is faced on the continent of Europe. War in Ukraine is, of course, a huge challenge to us all. It has made a voluminous impact on the continent of Europe itself and our region and our country – everyone and global politics.
It may be said that the entire world is experiencing a huge challenge, which has not been witnessed since WWII. We understand it well and it is a tremendous challenge. Therefore, it requires very prudent management. We pursue our policies accordingly. From day one, we are following the right policy and have been implementing it since then. I have said it many times and it is a shared approach of our team that we should be predominantly guided by the best interests of our country. We have been acting with this key motivation and idea, by pursuing the policy needed for our people in the first place and our national interests.
Once again, I wish to state that we are very concerned with this war. I wish to once again demonstrate my support to the Ukrainian people, wishing them peace and quick ending of this war. We reiterate our support for the sovereignty and independence of Ukraine. I once again wish to note that this war needs to end as soon as possible.
Meanwhile, I wish to once again remind our public that during the pandemic, as well as in the post-pandemic phase, our country combatted a number of challenges. You may well remember that our country was not yet out of the pandemic, when the devastating war started, which gave rise to major problems of course. Nevertheless, with our joint efforts, we – together with our team, Parliament and authorities at large – managed to achieve a 10% economic growth for the second year in a row. This achievement and abundance is, of course, translated into the benefit of our people and reflected on our country, people and society.
I wish to touch upon the main development of the year, which is a decision made by the EU on granting the European Perspective to Georgia, which was hard to imagine before. This war has accelerated the process. We understand it well. I wish to note that we were expecting the candidacy status, but we understand that it was only a political decision, rather than being a merit-based one. Georgia thus did not receive the candidacy status, though we believe that it will be granted to our country very soon. Reasons for thinking this way are the developments and successful reforms that we have all implemented, along with 12 recommendations defined for our country, implemented with high precision with engagement of us all – government, parliament, all of us. We are now expecting a decision to be made by our European colleagues. I wish to remind our society hereby that every achievement, every progress made in the past 10 years on the path of European integration is great merits to our team only – be that the EU-Georgia Association Agreement, DCFTA, Visa-Free Travel Arrangement and now an official application for EU membership with European Perspective granted to our country – all of these are great merits to the Georgian Dream!
Now as for the economy, I wish to report on several specific results. First of all, let me repeat again that we are thrilled that economic growth will be 10% this year again. Last year it was 10.5%. Gross Domestic Product (GDP) Per Capita in 2020 – for comparison – was around 4200 USD. It grew in 2021 and this year is expected to be about 6700 USD. Our forecast for 2023 will reach 8000 USD.
Economy of our country in 2020 was around 50 BLN GEL, while it will be 80 BLN GEL in 2023, i.e. we have achieved a growth of 30 billion in 3 years. You may agree that it is quite significant progress. However, we understand that this pace should not stop and more needs to be done with greater responsibility, higher speed. We should continue with our progress and reforms.
External Debt – for your information – was increased to 60% of GDP in 2020, while we succeeded in reducing it to 39% in 2022 and it will further decline next year and reach 38%. External Debt volume has been reduced by over 22% within 2 years. During the pandemic – you may recall – the budget deficit was very high at 9.3%. When I was appointed as the Prime Minister of Georgia last year, it was reduced to 6.1% and later – this year – to under 3%. Next year it will be 2.8%, which is also a considerable progress. I wish to thank everyone [engaged in this process].
Now, as for the export indicators: you may be aware that in the past 2 years we substantially increased exports from the country. Jan-Nov (11 months of 2022) data evidence that it has been increased by 32%, amounting to over 5 BLN USD. Domestic exports increased by 21%, amounting to 3.4 BLN USD. Trade volumes in Jan-Nov (11 months of 2022) reached 17 BLN USD, which – compared to the previous year – evidenced a 32% increase. I wish to hereby note that trade volume in the first 10 months of the year exceeds the annual indicator of the previous one.
Tourism has recovered at a high speed. It could be said that it recovered completely. We have more room to increase it further next year. Proceeds from tourism amount to 3.2 BLN USD.
I wish to note herewith that transportation of cargo by road, rail and other means is record-high amounting 25 billion tons, which is almost 20% higher than the respective indicator of the previous year.
Dear Friends, it was a positive year for the foreign direct investments (FDI) as well. Indicator for 2022 increased by 100%, amounting to about 1.7 BLN USD during the first 10 months of the year. If we compare this indicator with that of 2021, the increase will be 100%, as I told you already, and 72% in contrast with 2019. I wish to note that the share of the EU in the FDI is 47%.
Poverty and unemployment, naturally, is our main challenge for our government in the country. Our declared policy is to overcome poverty and reduction of unemployment in the most efficient manner. Q3 of the year stood out in this context as well. Unemployment level dropped to the historic minimum and amounted 15.6%. I also wish to tell you that 229 000 new jobs were created within 2 years – from Q2 of 2021 through Q3 of 2022. Thus, 229 000 people got employed within almost 2 years, out of which 209 000 jobs were created in the private sector and you may be aware that several months ago we launched a program of public works, which envisaged the employment of socially vulnerable, but otherwise capable individuals. Over 30 000 socially vulnerable people got employed in the past 6-7 months. Resources are wide-ranging as you may well be aware that 200 000 individuals in the country are regarded as socially vulnerable, but otherwise capable individuals. Our aim is to get them all employed both in the public and private sectors.
Very briefly, I also wish to say that – as I told you – we expect a 10% economic growth this year and according to the medium-term forecast Georgia will have one of the highest economic growth indicators in the region and throughout Europe. These are projections of our partners – IMF and World Bank.
Now, as for the energy sector: it is one of the key sectors, which should be developed further and with greater effort. We need to attract more investments. Past 5 years were almost idle in terms of investments to the sector. Under my instructions, active work was pursued with the IMF and we agreed to introduce a new scheme. It has already been approved at the Executive Government Meeting. Tenders will be announced for 1500 megawatts in total. Apart from this, there are the 800 megawatts already committed under the PPA (Power Purchase Agreement). That will be commissioned as well. So, overall, we are referring to at least 2300 megawatts of energy capacity a year that will be generated at hydro power plants (HPP). It translates into an investment of almost 3 BLN USD. It includes hydro, wind and solar energy, which is so important for our energy security and energy independence.
I wish to clarify for our society once again that development of energy generation has a tremendous importance for the energy security and energy independence of Georgia, especially against the background of what is happening now in Europe – energy crisis, price increase, when an average price per kilowatt of power energy is 20 cents in European countries. It even went up to 80 cents in Germany in summer. Other countries had 50 and 60, but the average price is 20 cents. Price on energy is very cheap in Georgia. That is why I highlight that more efforts need to be taken towards this end. For that very purpose, we approved a new scheme, as I told you. Besides, we made a successful step forward within this domain. You may well be aware that I was visiting Bucharest a few weeks ago and we launched a historic project. It is an entirely Georgian initiative. We brought it to the EU, to our partners, to our friendly Azerbaijan and Romania. We started to implement it together with Romania, which was joined by Azerbaijan, Hungary and acquired full support of the EU. You have seen that Mrs. Von der Leyen was with us in Bucharest and we celebrated the launch of the project. Feasibility Study will be completed and made readily available in a few months. We will then move to active work towards this end. What will it bring to the country? One may ask. It may be said that it is similar by scale and magnitude to Baku-Tbilisi-Ceyhan (BTC). It is a means of guaranteed sales of power directly linking our grid to the EU grid and market. It is a project of truly historic significance! It will cost about 2-3 BLN USD and we will implement it together with all those countries who signed the Memorandum. That is why, I once again wish to note that it is essential for Georgia to have the relevant energy generation capacity and that is why we need the power energy generation facilities to be built in terms of wind, solar and hydro, as well as thermal power plants to make sure that we sell our share of power energy to the EU, which will generate hundreds of millions in revenues for our country and be ultimately reflected on our people as an overwhelming benefit. I wish to note herewith that when economic growth is ahead of energy generation, it is essential to change the proportion and correlation. Energy generation should be ahead of economic growth in the country. It is believed to be the right sequence.
Very briefly, I also wish to say that we had a discussion on this topic. You may recall that several weeks ago I announced that Anaklia Port will be built by our – Government – decision. State should be the owner of this strategic asset. State will thus own 51% of Anaklia Port. Poti Port is privatized. Batumi Port is privatized as well. We have no leverage to regulate the tariffs or other aspects of their operation. Especially when Central Asian countries agree that diversification and identification of new routes is essential, our corridor acquires a special importance. Particular focus is made on our corridor and that is why ports, infrastructure and railway need to operate smoothly. That is why we pay special attention and will make efforts and investments. On the remaining 49% we wish to announce an international tender. Many companies are expressing their interest and in the coming months we will have the result known.
Government meeting chaired by Prime Minister of Georgia
Published in
Politics
Monday, 26 December 2022 16:57
A Government meeting was held today under the chairmanship of Georgian Prime Minister Irakli Garibashvili at the Administration of the Government.
The Members of the Cabinet of Ministers discussed 14 topics. One of the topics to be discussed involved the participation of Georgia’s Innovation and Technology Agency in 500 Georgia LP, a venture investment fund. It was noted that the development of innovative business has reached a level when global players take an interest in investing in the Georgian startup ecosystem. Georgia 500 is a 20-million-USD venture fund established by 500 Global to support and further develop investments in Georgian startups and innovations.
Notably, it will be a venture fund, in which, alongside the Government of Georgia, the private sector will also take part, namely the Innovation and Technology Agency will be the fund’s partner with a 5-million-USD investment.
The topics to be discussed also included several draft ordinances of the Government of Georgia on the development of wind farms and solar and hydropower plants in Georgia. The installed capacity of these projects is over 153 MW.
The Members of Government discussed the draft ordinance of the Government of Georgia on the agreement on the Ksani Wind Farm to be executed between the Government of Georgia and Wind Farm LLC, based on which an agreement will be signed between Government of Georgia and Wind Farm LLC, to obligate the company to carry out a technical and economic study of the Ksani Wind Farm’s project at its own expense within 12 months. The project is planned to be implemented in Ksani Municipality. According to the project, the expected installed capacity will make up 50 MW, with the annual generation reaching 173.5 million kWh , and the project’s value constituting 59.4 million USD.
The draft ordinance of the Government of Georgia on the agreement on the Devashi HPP to be signed between the Government of Georgia and United Power Energy LLC was also discussed at the meeting. Based on this agreement, the company is obligated to carry out a technical and economic study of the Devashi HPP project at its own expense within 15 months.
The hydropower plant’s location is the Devashi River, Lentekhi Municipality. According to the project, the expected installed capacity will be 5.45 MW, with the annual generation reaching 28 million kWh, and the project’s value constituting 4.389 million USD.
The Members of Government also discussed the draft ordinance of the Government of Georgia on the approval of the Akhali Samgori solar power plant’s concept and the implementation of accompanying measures, based on which Georgian Energy Development Fund JSC will be tasked with implementing preliminary work under the project of the Akhali Samgori solar power plant. The power plant’s location is the village of Akhali Samgori, Gardabani Municipality. According to the power plant’s project, the expected installed capacity will be 96 MW, with the annual generation reaching 96.7 million kWh , and the project’s value constituting 86.935 million USD.
Press Service of the Government Administration
Prime Minister Irakli Garibashvili meets Crown Prince/Prime Minister of the Kingdom of Saudi Arabia
Published in
Politics
Thursday, 22 December 2022 11:30
Georgian Prime Minister Irakli Garibashvili met with the Crown Prince/Prime Minister of the Kingdom of Saudi Arabia, His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud.
A welcoming ceremony in honor of the Prime Minister was held at Al Yamamah Palace.
The parties reviewed the positive dynamic of cooperation between the two countries and discussed prospects of deeper economic cooperation. Emphasis was placed on the growing role and importance of Georgia as a transit hub connecting Asia and Europe and a transport corridor with formidable potential. The Saudi Arabian side expressed readiness to become more active in tapping into Georgia’s potential.
The discussed topics included prospects of deepening tourism cooperation. The Prime Minister underlined that tourism is a rapidly growing sector of the Georgian economy, that the citizens of Saudi Arabia enjoy visa-free travel, and it is commendable that the numbers of visitors from Saudi Arabia are increasing every year.
Investment directions were also discussed at the meeting. Irakli Garibashvili pointed out that Georgia is an attractive country to Saudi Arabia in terms of both state investment funds and private business. According to the Prime Minister, the Government of Georgia welcomes the entry of more investors from the Kingdom of Saudi Arabia into Georgia.
An official dinner honoring the Head of Georgian Government was held at Al Yamamah Palace.
Irakli Garibashvili invited the Prime Minister of the Kingdom of Saudi Arabia to visit Georgia at his convenience.
Press Service of the Government Administration
Irakli Garibashvili: By connecting electricity transmission lines and power energy systems of Georgia, Romania, Azerbaijan and Hungary, Europe may not only connect to Georgia, but to the entire region of South Caucasus
Published in
Politics
Tuesday, 20 December 2022 10:47
Georgia’s strategic geographic location makes us a natural bridge between the West and the East, serving as a gateway for eight landlocked countries of South Caucasus and Central Asia; a crucial link on EU’s Global Connectivity map and a game changer, when it comes to diversification of transport routes and energy supply to Europe. It was announced by Irakli Garibashvili, Prime Minister of Georgia at the Plenary Session on Strategic Partnership for Green Energy Development and Transmission held in Romania today.
The Head of Government of Georgia delivered a key-note speech at the Plenary Session on Strategic Partnership for Green Energy Development and Transmission held at the Cotroceni Palace of Romania and spoke about the new quadrilateral agreement along with other leaders participating in the milestone event.
The Prime Minister of Georgia noted that present geopolitical challenges and the war in Ukraine has made the need for diversification and resilience even more imperative, in order to address urgent challenges of energy security.
The Head of Government of Georgia expressed his gratitude to the Romanian side for organizing and hosting the historic event, while thanking Ursula Von Der Leyen, President of the European Commission for her support towards the project.
„I am pleased to address the distinguished audience at today’s important gathering. At the outset, I would like to thank the Romanian side for hosting and organizing this event, which has a historical importance. I also thank Ursula von der Leyen, President of the European Commission for supporting the project.
Present geopolitical challenges and the war in Ukraine has made the need for diversification and resilience even more imperative, in order to address urgent challenges of energy security. Georgia’s strategic geographic location makes us a natural bridge between the West and the East, serving as a gateway for eight landlocked countries of South Caucasus and Central Asia; a crucial link on EU’s Global Connectivity map and a game changer, when it comes to diversification of transport routes and energy supply to Europe.
With this in mind, we have made connectivity a top priority, with a special vision of connectivity of the Caucasus region and Europe. We are investing in expanding and modernizing our energy, digital and transport infrastructure; we are bringing these sectors in line with the EU norms and standards according to the commitments under the AA/DCFTA, Common Aviation Area Agreement and within the Energy Community. Extended TEN-T core network and the EaP Economic and Investment Plan provide important tools to facilitate investments in the strategic projects that have national and the wider regional value as well” noted the Prime Minister of Georgia.
According to the Head of Government of Georgia, by connecting the power systems of Georgia, Romania, Azerbaijan and Hungary, Europe will be able to connect not only with Georgia, but with the entire South Caucasus region.
As Irakli Garibashvili noted, being a credible transit partner, Georgia has been a key link for the delivery of hydrocarbon resources via major regional energy transit routes from the Caspian Sea basin to the West.
The Prime Minister of Georgia also stated that implementation of this project transforms the strategic partnership into a new dimension.
“Dear Friends, a few years ago, with the initiative of Georgia, work started on the project, which envisages the connection of the electric energy systems of the Caucasus region and Europe by means of a high-voltage underwater power transmission line. Today, by signing the “Agreement on Strategic Partnership in the field of Green Energy Development and Transmission between Azerbaijan, Georgia, Romania and Hungary” we are confirming the readiness of our countries to cooperate closely in terms of “green energy” supply.
As you may be well aware, Georgia has substantial potential for power generation surplus from renewable energy sources that it can supply to neighboring countries. Today, we have the appropriate infrastructure for electricity supply to all our neighbors, except Europe, The Black Sea Underwater Electricity Transmission Cable holds an important prospect to this end. Project will support development of the renewable energy sector and increase transit opportunities/back-to-back trade options between the EU and South Caucasus Region. As a result of this project implementation, by connecting the power systems of Georgia, Romania, Azerbaijan and Hungary, Europe will be able to connect not only with Georgia, but with the entire South Caucasus region.
In June 2020 the World Bank prepared a report on Preliminary Economic Analyses of the Black Sea Submarine Cable project, which proved that the above-mentioned project is economically viable.
On April 26 of 2021, GOG announced a request for expression of interest for the feasibility study of the Black Sea underwater electricity transmission cable and digital line construction project. The selection was carried out in accordance with the World Bank Procurement Procedures. As the result of selection, the winner has been identified. The feasibility study commenced on May 11 of 2022 and will be implemented during an 18 months’ period.
To this end, I should emphasize that strengthening the interconnections and energy transit capabilities of the region is of strategic importance for my Government. Being a credible transit partner, Georgia has been a key link for the delivery of hydrocarbon resources via major regional energy transit routes from the Caspian Sea basin to the West.
The implementation of this project, opens a new dimension for the development of strategic partnership between our countries and once again let me reiterate, that Georgia having huge potential for production and export of renewable energy, will contribute to the strengthening of Europe’s energy security” added Irakli Garibashvili.
Prior to the plenary session, the President of Romania held a Greet and Welcome Ceremony at the Cotroceni Palace for the leaders of countries that are signatories to the Agreement on Strategic Partnership of the Republic of Azerbaijan, Georgia, Romania and Hungary for the Development and Transmission of Green Energy.
The Head of Government of Georgia is visiting Romania with a Delegation, consisting of Levan Davitashvili, Deputy Prime Minister and Minister of Economy and Sustainable Development of Georgia; Ilia Darchiashvili, Minister of Foreign Affairs of Georgia; Lasha Khutsishvili, Minister of Finance of Georgia and Revaz Javelidze, Head of Government Administration.
Press Service of the Government Administration
Prime Minister Irakli Garibashvili’s meeting with Ali Asadov, Prime Minister of the Republic of Azerbaijan
Published in
Politics
Friday, 16 December 2022 13:45
Georgian Prime Minister Irakli Garibashvili met with Ali Asadov, Prime Minister of the Republic of Azerbaijan.
The conversation in the meeting at the Administration of the Government focused on the strategic partnership and close friendly relations between the two countries. The high-level strategic partnership between Georgia and the Republic of Azerbaijan was underlined.
Irakli Garibashvili and Ali Asadov discussed ways of further deepening the close and productive political, economic, transport, energy, and humanitarian cooperation between the two countries.
The high-level political dialogue between the two countries was noted, with emphasis in this context placed on the importance of the visit of the President of the Republic of Azerbaijan, Ilham Aliyev, to Georgia.
The conversation also touched on the security situation in the region and worldwide.
Press Service of the Government Administration
