MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Vice Prime Minister, Minister of Economy and Sustainable Development Levan Davitashvili met with Austrian Ambassador to Georgia, Thomas Mühlmann, member of the Austrian Chamber of Commerce Karlheinz Kopf and Commissioner for Trade Gerhard Lackner. The meeting was also attended by the Ambassador of Georgia to the Republic of Austria, Ketevan Tsikhelashvili.

Economic relations between Georgia and Austria were discussed at the meeting. Mutually fruitful relations in such sectors as trade, investments, mining tourism, energy, transport, etc. were specially emphasized. The attention was focused on the assistance provided by the Austrian government in the direction of overcoming the Covid pandemic.

It was noted that the improved dynamics of bilateral trade, namely, exports increased by 6% in 2021 and by 16% in 9 months of 2022. At the same time, the potential that exists in the direction of trade was given a special emphasis. Attention was also drawn to Austrian business in Georgia. Currently, 245 companies with Austrian capital operate on the local market. It was said at the meeting that the Georgian government welcomes the entry of Austrian business into Georgia and the deepening of ties with Georgian business.

Vice Prime Minister emphasized the importance of deepening the economic relations between the two countries and positively assessed the holding of such events as business forums, trade missions, exhibitions, B2B meetings, etc. It was noted that such activities will encourage investment potential and contribute to the growth of Georgian-Austrian business cooperation.

Dynamics of the growth of tourist flows from Austria to Georgia were positively assessed and it was noted that the potential in this regard is very large.