Armenians start investing more in Georgia

On May 18, Prime Minister of Armenia Hovik Abrahamyan travelled to Batumi, where he met with his Georgian counterpart Irakli Garibashvili.  The sides discussed development of the bilateral economic relations, press office of the Armenian government informed EADaily .

The two prime ministers discussed Georgia’s attractiveness for tourists from Armenia. By data of the Ministry of Economy and Sustainable Development of Georgia, Armenia’s investments in Georgia in 2013-2014 totaled US$20.13 million. As compared to 2013, investments in Georgia grew 139%, according to apsny.ge.  Deputy Prime Minister – Minister of Economy of Georgia Giorgi Kvirikashvili has and Minister of Economy of Armenia Karen Chshmarityan have recently discussed the prospects of the bilateral trade and economic relations on sidelines of the recent EBRD conference in Tbilisi.

As of January 1 2015, Armenia held shares in 548 enterprises in Georgia. In 2014, 1,325,635 people visited Georgia from Armenia, a 2.6% growth versus 2013.

Armenia is one of the key trade partners of Georgia.  The commodity turnover between the two countries exceeded US$500 million in 2014. At present, the sides are discussing development of the trade and economic cooperation as Armenia joins the Russian-led Eurasian Economic Union and Georgia signs the Association Agreement with the EU.