Armenia, Georgia should be presented as joint investment, trade area

YEREVAN, October 15. /ARKA/. Armenia and Georgia should be presented as a joint investment and trade area, the Prime-Minister of Georgia Zurab Nogaideli told journalists in Yerevan after the 6th sitting of the Armenian-Georgian intergovernmental commission on economic cooperation.

He pointed out that Armenia and Georgia have practically completed the stage of sorting out the problems, particularly in the economic field.

According to him, currently the sides gradually pass on to more efficient use of the existing potential. “We have already started to work on ensuring that Armenia and Georgia are introduced to investors and to those who want working with us in a joint investment and trade area. These are not mere words,” Nogaideli said.

In his turn, the Prime-Minister of Armenia Serge Sargsian said that the format of the joint work is satisfactory as the sides succeeded in turning to the next level now. If earlier the stability of the deliveries of Armenian cargoes via Georgia was discussed, “currently deeper issues important for both of the peoples are under consideration with the issue on formation of joint market being one of them”, Armenia’s Prime-Minister said.

“Armenia and Georgia separately are a small market each, but together we can be of interest to major companies. There is also another problem: the products produced in Georgia are not produced in Armenia and vice versa. Thus we are not competitors and can supplement each other in the shortcomings of mutual markets,” Sargsian said.

The 6th sitting of the Armenian-Georgian intergovernmental commission on economic cooperation was held Monday in Yerevan. As a result, the following documents were signed: the protocol of the sitting and two documents on cooperation in the customs fields, particularly in exchange of customs statistical information and administrative mutual assistance on customs issues.

Armenia’s foreign trade turnover with Georgia increased 41.5% and totaled $81mln in January-August 2007. Exports from Armenia to Georgia reached $55.6mln in the period – a 57% increase compared with January-August 2006. Armenia’s imports of Georgian-make goods totaled $25.4mln over the period – a 16.4% increase. The imports from Georgia’s territory reached $74.4mln (1.7-time increase). N.V. –0--