MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Issues related to trade and economic cooperation between Georgia and Armenia and their further deepening were discussed by the First Vice Prime Minister, Minister of Economy and Sustainable Development of Georgia Levan Davitashvili and the Minister of Economy of the Republic of Armenia Gevorg Papoyan at a meeting held within the framework of the First Vice Prime Minister’s visit to Armenia.

“Armenia is one of Georgia’s important trade and economic partners, and naturally, close dialogue with the Armenian government and the business sector is a very important prerequisite for these relations to grow even further, to be even more favorable and successful. Therefore, we have close dialogue with the Ministry of Economy of Armenia, our cooperation is complex and includes trade relations, relations in the fields of energy, transport, telecommunications, tourism, and investment” – Levan Davitashvili said.

The meeting with the Minister of Economy of Armenia was attended by the Deputy Minister of Economy and Sustainable Development of Georgia Genadi Arveladze and the Georgian Ambassador to Armenia Giorgi Sharvashidze. The heads of the economic agencies of the two countries exchanged information on the main economic indicators and trends in Georgia and Armenia, as well as the existing business and investment environment.

“Along with the dialogue between state bodies and agencies, it is very important to have practical meetings and establish closer ties with the business sector. All this contributes to investment activities and the promotion of trade – the trade turnover between Georgia and Armenia is almost 1 billion USD and shows a growing trend. Likewisely, cooperation in the field of tourism is particularly important; Georgia is one of the most popular destinations for Armenian visitors – last year we hosted about a million visitors from Armenia and maintained a very significant positive dynamic” – the First Vice Prime Minister noted.

According to Levan Davitashvili, the conversation also touched upon large regional transport and infrastructure projects and issues of cooperation in this regard. In his assessment, the signing of the Declaration on Strategic Partnership in 2024 was particularly important, which further increased the dynamics of cooperation between the two countries. At the same time, Levan Davitashvili received comprehensive information from the Minister of Economy of Armenia on the prospects for the activities of Georgian companies in Armenia.

“The investment made by Lion Finance Group in the financial sector of Armenia is very important. This was one of the most significant investments, and we discussed that this is a good opportunity – when the financial institutions of the two countries cooperate closely. Accordingly, there is an opportunity for representatives of our country and Armenian businesses to have support from banking and financial institutions in the implementation of their joint projects. I think that the dynamics of trade and economic relations with Armenia will increase even further in the coming years” – Levan Davitashvili said.