26 July 2010
On July 23, Prime-minister of Georgia Mr. Nika Gilauri visited capital of Azerbaijan Baku to discuss broad range of economic issues – multi-million joint infrastructure projects and trade related matters.
Azerbaijan and Georgia agreed to speed-up construction of Karsi-Akhalkalaki-Baku railway which will connect both Caucasus countries with Turkey enhancing transit possibilities and attractiveness of the corridor.
Mr. Nika Gilauri also discussed with his Azeri counterpart Mr. Artur Rasi-Zade the project of rehabilitation of 700 megawatt high-voltage line connecting two countries. Works on the line should be finished until th... |
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22 June 2010
Prime Minister Nika Gilauri signed, during his visit to Switzerland on June 15-16 2010, a double-taxation avoidance agreement with the president of Swiss Confederation Ms Doris Leuthard.
Swiss Confederation is 27th country with which Georgia signed double-taxation avoidance treaty.
Since 2007, Georgia, in line with its strategic objective to become a regional financial hub, has emphasised entering into double-taxation avoidance treaties with its neighbours and key financial centers worldwide.
In 2010 the treaties were also signed with Israel, Spain and Egypt. In 2009, advanc... |
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11 May 2010
Prime Minister of Georgia Mr. Nika Gilauri appointed Mr. George Pertaia as a new adviser in his team to enhance communication between business circles and the government. Mr. Gilauri came out with this initiative few days ago during his meeting with Georgian businessmen.
Mr. Pertaia has rich experience in dealing with businessmen in Georgia and he is well-known person among them. He had led committee of trade and transportation in American Chamber of Commerce of Georgia. Mr. Pertaia’s main responsibility on this position was protection of business interests in Georgia.
He also worked in the USAID and UE projects related to the study of busin... |
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27 April 2010
Prime Minister Mr. Nika Gilauri on April 26 paid an official visit to Jordan, during of which governments of the two countries signed an agreement on trade and economic cooperation.
Mr. Gilauri held meetings with his Jordanian counterpart Mr. Samir Rifai and local businessmen. Both sides agreed to prepare and sign agreements on visa facilitation, double taxation and investment protection.
“Economies of our countries are similar, they have similar philosophy. It would be beneficial for both sides to hold joint business forum in Georgia with participation of private companies of the two countries,” Mr. Gilauri said during the meeting with Mr. Rifai.
Mr. ... |
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13 April 2010
The Government of Georgia is pleased to announce that on April 12, 2010, Standard & Poor's Ratings Services raised its long-term foreign and local currency sovereign credit ratings on the Government of Georgia to 'B+' from 'B'. The short-term ratings were affirmed at 'B'. The outlook is stable. The transfer and convertibility assessment was also raised to 'BB' from 'BB-'.
According to Standard & Poor’s:
“The upgrade reflects our view of Georgia's relative strength compared to its 'B' rated peers in terms of economic structure and growth prospects. In our opinion, the government's focus on market-oriented reforms is likely to improve economic and fiscal indicators ov... |
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08 April 2010
National Statistics Office of Georgia – GeoStat - released the preliminary Q4 FDI figure for 2009. FDI inflow reached US$254 mln in Q4’09, up 14% q-o-q as compared to the Q3, 67.3% to Q2 and as many as 95% to Q1.
Quarterly FDI CAGR is 25% for 2009 once again demonstrating the investors’ growing confidence in Georgia’s economy.
Even though considerable decline in FDI inflows has been observed in 2009 as compared to the previous year, the 2H inflow is up 13.4% y-o-y. The y-o-y drop in FDI inflows is against the background of the exceptionally high investment inflows in the 1H’08.
The industry sector attracted biggest share of 2009 FDI – 26.9%, followed by ... |
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19 March 2010
During his visit to Brussels in March 14-17, 2010, Prime Minister of Georgia, Mr. Nika Gilauri had extensive talks in the EU Commission and European Council. He met with the President of EU Commission Jose Manuel Barroso, the President of the EU Council Herman Van Rompuy, the EU commissioners on Trade, Energy, Transport, Enlargement and ENP, Members of European Parliament and the EU member-states diplomats.
During the official meetings, parties discussed broad range of issues regarding the EU-Georgia relations. Both sides noted that the EU-Georgia relations have got on higher level in the recent period.
“Georgia is the only South Caucasus country to have successfully negotiated both V... |
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08 March 2010
As evidenced by the key indicators, performance of the real sector in Georgia continued to improve in February 2010, building on the positive momentum of Q4 2009 and January 2010.
The number of pre-owned vehicle purchases in February 2010 (9,951) is up 15.4% y-o-y, 9.5% m-o-m, and even 3.3% higher than February 2008, when the real sector growth was high. YTD increase is 15.9% to 2009 and 13% to 2008. The number of total vehicles registered increased by 1.9% y-o-y and 3.8% m-o-m.
The number of secondary real estate transactions in February (i.e. excluding purchases of newly-built properties) reached the highest point for the last four years - 24,031, up 1.1% y-o-y and 25.7% on a YTD basi... |
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27 February 2010
On February 24-25, 2010, the Prime Minister of Georgia, Mr. Nika Gilauri, paid official visit to Qatar to personally introduce authorities and businessmen of this country with investment opportunities in Georgia.
Mr. Gilauri met with Sheikh Hamad Al-Thani, the Prime Minister and the Minister of Foreign Affairs of the State of Qatar. During the meeting sides agreed to sign a double taxation treaty and create joint council of businessmen of the two countries to facilitate better contacts of business circles.
Mr. Al-Thani will visit Georgia in the beginning of April and discuss in more details further collaboration with Georgian side.
Mr. Gilauri has also presented ... |
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23 January 2010
On January 19-21, 2010, the Prime Minister of Georgia, Nika Gilauri paid an official visit to the Arab Republic of Egypt, where the Second Meeting of the Georgian-Egypt Economic, Scientific and Technical Cooperation Commission was organized.
The Prime Minister of Georgia met with the Prime Minister Ahmed Nazif, where parties discussed investment environment, issues of Georgia-Egypt bilateral cooperation and opportunities in realization of joint investment projects in the sphere of energy, pharmaceutical production, information technology, tourism, and others.
Within the visit, the Prime Minister Gilauri also met with relevant ministers and participated in the Georgia-Egypt Busines... |
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