MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Second round of negotiations on the draft agreement on promotion and protection of investments between Georgia and Hungary was held in Tbilisi on May 14-15.

The Georgian end was chaired by the Deputy Minister of Economy and Sustainable Development, Genadi Arveladze. Investment promotion and mutual protection of the agreement by each contractor country will contribute to the stimulation of entrepreneurial initiatives, free movement of private capital, economic development and the effective solicitation of economic resources in each state. The provisions of the project include the mechanisms for protection of investments and investors; in case of dispute between the parties, the ways of their solution, which will contribute to the development of investment activities between the parties.

Within the framework of the negotiations, the Parties signed the agreed text on the issues discussed and the progress achieved. A further step to the successful conclusion of the negotiations on the Agreement text was another part of the meeting agenda.