Dep. Economy Minister Holds Meetings in US on Georgia-US Economic Relations
On November 28-29, Deputy Minister of Economy and Sustainable Development of Georgia Genadi Arveladze met with advisors from various committees of the US House of Representatives and the US Senate, US Agency for International Development (USAID) Assistant Administrator for Europe and Eurasia, the US Trade Representative (USTR), and economic policy aides to discuss international trade and labor issues.
During the meetings, Arveladze underlined the necessity of expanding trade between the US and Georgia and highlighted the possibility of launching a free trade agreement between the countries, an opportunity Georgian representatives have been pushing hard for in Washington since the Trump administration came to power. US President Donald Trump has repeatedly stated his preference for bi-lateral trade agreements over multilateral or international deals such as the Trans-Pacific Partnership and the North American Free Trade Agreement.
At the meetings held at the US Congress, Arveladze spoke about the importance of supporting legislative action in the process of deepening economic relations, which is also necessary to expand bilateral trade relations between the countries. This issue was also discussed during the meeting held at the USTR’s Office. The USTR website notes that trade between the United States and the Caucasus region totaled $1.2 billion in 2017, equivalent to the United States' 87th largest trading partner. To Georgia specifically, the US exported $383 million worth of goods in 2017 and imported $131 million worth of goods from Georgia in the same year. “Investment flows to and from the region remain strong due to Bilateral Investment Treaties between the United States and all three countries,” explains the site, recognizing the Trade and Investment Framework Agreement (TIFA) signed between the US and Georgia in June 2007 that provides “a forum to address trade issues and will help bolster Georgia's ambitious program of economic reform and liberalization.”
During his meeting at USAID, Arveladze spoke about the importance of the organization’s projects and programs in Georgia to the country’s economic development, including two major ongoing programs which are aimed at the development of agriculture in Georgia and promoting economic security to strengthen the country. One of the main topics of the meeting was the Country Development Cooperation Strategy for Georgia, which will be implemented in Georgia to promote economic development in various fields over the next several years.
While in the US, Arveladze also attended the America-Georgia Business Council's 21st Annual Conference on November 29, where he watched several presentations and delivered a speech that focused on the importance of US-Georgia economic and commercial cooperation and deepening ties in this direction. The opening remarks at the conference were given by Georgian Ambassador to the United States, David Bakradze. Bakradze posted on Twitter that it was “a pleasure participating in [the] 21st annual conference...discussing priorities of US-Georgia cooperation in the fields of Security and Trade.” He thanked president of the Council Mamuka Tsereteli for his “decades-long commitment to the bilateral relationship.”
During his visit, Arveladze also met with the Deputy Assistant Secretary of State at the US State Department and with the Chair of the US House of Representatives Committee on International Affairs.
By Samantha Guthrie
Image source: Ministry of Economy and Sustainable Development