US, Georgia to Enhance Bilaterial Trade Relations

Within the frameworks of Georgian Prime Minister's visit to the US, the United States Department of Commerce and the Georgian Ministry of Economy and Sustainable Development signed a memorandum of understanding on cooperation to enhance bilateral trade relations.

The document, signed after the meeting between Mamuka Bakhtadze and US Secretary of Commerce Wilbur Ross on June 13, aims to further enhance the bilateral trade relations between the two countries. 

During the meeting at the Department of Commerce, the Prime Minister of Georgia and the US Secretary of Commerce emphasized the importance of strengthening bilateral trade and economic relations, including through such effective platforms as the working group for the economy under the US-Georgia Strategic Partnership Commission, and through high-level dialogue on trade and investment.

According to Mamuka Bakhtadze, low taxes, advantageous geographic location, and numerous preferential regimes make doing business in Georgia even more attractive and offer businesses the shortest route to reach the fastest growing European and Asian markets.

During the meeting, the parties agreed to launch the establishment of a US commercial representative office of regional importance in Georgia. 

As Georgian PM Noted, the above-mentioned document is an agreement on principles designed to ensure Georgia's tangible, inclusive growth in the coming years.

The Prime Minister thanked Georgia's American friends for their support and emphasized the success of his ongoing visit.

According to the memorandum, for the purpose of further deepening bilateral trade and economic relations, and to expand the scope of trade, US and Georgia will also intensify dialogue and promote direct ties between their business communities.

By Ana Dumbadze