MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Minister of Economy and Sustainable Development, Natia Turnava held an online meeting with the US Department of Commerce Deputy Under Secretary for International Trade, Joseph C. Semsar, where bilateral trade and economic relations and further plans for a strategic partnership were discussed. 

During the online meeting, it was noted that the United States is Georgia’s main strategic partner and ally, and its assistance and projects to Georgia over the years have made a significant contribution to Georgia’s democratic development and the establishment of a free market economy.

The Minister of Economy and Sustainable Development expressed gratefulness towards the US for the continues assistance and noted that the US remains one of the main investors in the country even during the global pandemic – in the two quarters of 2020, the US is the third largest direct investor. It was noted that the US is also one of the main trading partners for Georgia and in recent years was included in the top ten in terms of trade turnover, exports and imports.

“When talking with the US Department of Commerce Deputy Under Secretary for International Trade, Joseph C. Semsar, we highlighted that both sides agree on the fact that the bilateral relations between Georgia and the United States are the highest level ever in political, economic or any other terms. We have a high level regular dialogue with the US side on various economic and trade issues. In this regard, the ongoing High Level Dialogue on Trade and Investment and the discussions within the Georgia-US Strategic Partnership Charter Economic Working Group, which we will discuss in depth with US partners on Georgia’s reforms and future cooperation plans, are underway,” – Natia Turmava stated. 

According to the Minister, the importance of concluding a Free Trade Agreement between the two countries was discussed at the meeting as well. It was noted that a study was conducted at the initiative of the Georgian side, which revealed that the Free Trade Agreement between Georgia and the United States would be beneficial for both countries. “There is a special format within which further dialogue and talks on a future agreement becomes possible. It was our request, which was shared quite positively, to accelerate and intensify this process, despite the global pandemic,” – Natia Turnava stated. The Minister also added that the US-Georgia Free Trade Agreement would be a mix of political and economic interests and also a clear signal of growing US economic interests in the region, contributing to Georgia’s Euro-Atlantic integration aspirations and economic development, including the trade diversification.

One of the main topics of the conversation was the effective steps taken by the Georgian Government against the global COVID-19 pandemic. The US side gave the positive evaluation of the timely measures taken by Georgia against the pandemic.

The Deputy Minister of Economy and Sustainable Development of Georgia, Genadi Arveladze and the Ambassador of Georgia to the United States, Davit Bakradze participated in the online meeting as well.