The Georgian Ambassador to the UAE, Paata Kalandadze, has affirmed that the relations between the UAE and Georgia have witnessed continuous growth at various levels since the establishment of diplomatic relations between the two countries in 1992.

In a statement to the Emirates News Agency marking his country’s independence day anniversary, Kalandadze said that Georgia is proud of its distinguished friendship with the UAE and keen to develop cooperation across various sectors, especially in the investment and tourism fields.

“The UAE is an ideal destination for all nationalities to live and reside,” he said, while praising the great support of both countries’ leadership to enhance the ties in all fields.

Kalandadze pointed out that the tourism sector in both countries is full of opportunities, and Georgia is looking forward to welcoming an increasing number of visitors from the UAE during the coming period due to the availability of regular flights between them.

He further stated that the UAE’s hosting of the Expo 2020 Dubai in October reflects the leading position the UAE enjoys at the regional and international levels, stressing that this prominent global event constitutes an important platform for the various participating countries to enhance cooperation and form partnerships.

The Georgian Ambassador noted that the world expo is of great importance as it is being held in conjunction with the celebration of the UAE’s golden jubilee and that his country is also celebrating in the same year its National Day and the 103rd anniversary of its founding.

Expo 2020 Dubai, he said, provides an ideal opportunity to shed light on the UAE’s progress and the size of investment opportunities it provides to businessmen and investors. He said that during its participation in exposition, his country will be keen to highlight its culture and rich history.

Earlier the Ras Al Khaimah Chamber of Commerce and Industry discussed, with Paata Kalandadze, Ambassador of Georgia to the UAE, ways of boosting the cooperation between the UAE and Georgia, to increase their trade exchange and promote mutual investments.

Mohamed Ali Musabbeh Al Nuaimi, Chairman of the Chamber, welcomed the meeting, stressing that it will help create effective partnerships between the two sides.

The meeting will boost the bilateral ties and economic cooperation between Ras Al Khaimah and Georgia, he added, highlighting the importance of enabling business leaders to discuss available investment opportunities in both countries.

Al Nuaimi further added that the emirate has the potential to attract tourists and will implement several significant tourism projects in the coming period, noting that it has more than 6,000 factories producing high-quality products.

“We aim to organise the Ras Al Khaimah International SME Fair this year, whose first edition was held for the first time in 2019 and was attended by 220 companies from over 20 countries,” Al Nuaimi said while inviting the Georgian business community to participate in the event.

Kalandadze affirmed that his visit to Ras Al Khaimah aims to promote his country’s investment environment and available opportunities, as well as discuss the establishment of projects and partnerships, adding that the Georgian Government offers various facilitations and incentives to attract foreign investment and has easy customs clearance procedures.

He also highlighted the meeting’s importance in boosting the cooperation between Georgia and Ras Al Khaimah and exploring mutual investment opportunities while urging Emirati investors and business owners to visit Georgia and learn about available opportunities. Georgia’s tourism sector is among its fastest-growing sectors, he added.

The meeting addressed available investment opportunities in key sectors in both countries, most notably tourism, real estates, energy, construction and agriculture.

Meanwhile Georgia’s economy shrank 8.3 per cent year-on-year in the first two months of 2021, compared with 3.7 per cent growth in the same period a year ago, preliminary data showed.

In February alone, gross domestic product (GDP) shrank by 5.1 per cent year-on-year after contracting 11.5 per cent in January. In February last year, GDP grew by 2.2 per cent.

Most major industries saw economic contraction in February, but the financial and insurance sectors, trade, water supply, sewerage and waste management did register growth.

In 2020, Georgia’s GDP declined 6.2 per cent, according to preliminary data from the National Statistics Office of Georgia, amid tough restrictive measures linked to the COVID-19 pandemic.

Georgia’s economy contracted at an annual 5 per cent in the first nine months of 2020, down from a growth rate of 5 per cent in the same period of 2019, as measures to curb the spread of the coronavirus took their toll, preliminary data showed.

WAM