Economy Minister Meets with Iranian and Japanese Delegations

Yesterday, Genadi Arveladze, Georgia’s Minister of Economy and Sustainable Development, hosted meetings with delegations from the governments of both the Islamic Republic of Iran and Japan.

The Iranian government was represented at the meeting by Deputy Minister of Cooperatives, Labor, and Social Welfare, Seid Hamid Kalantari. The two sides discussed the significant increases in trade and tourism between Georgia and Iran. They reviewed all aspects of the implementation process for the final session of the Bilateral Economic Commission.

The meeting with the Japanese delegation kicked off the fourth round of negotiations on the text of the Agreement on the Protection and Promotion of Bilateral Investments between the Georgian and Japanese Governments.

Consultations about the agreement were first discussed in May 2017, when the two parties introduced their terms to each other. The implementation of the agreement will help attract investments between Georgia and Japan and strengthen economic ties.

Japan is one of Georgia’s most active partner countries in terms of investment cooperation. The first Japanese investment in Georgia was in 1997 and in 2007-2017 Japanese investment totaled $152.16 million. In the first quarter of this year, investment in Georgia reached $16.21 million – 96% higher than the same period for the previous year.

By Samantha Guthrie

Photo: Ministry of Economy and Sustainable Development