A meeting of the Economic Cooperation Commission of Lithuania and Georgia took place in Vilnius
On February 3, the Third meeting of the Commission for Economic Cooperation of Lithuania and Georgia was held in Vilnius, which was chaired by the Minister of Economy and Innovation Aušrinė Armonaitė and the Minister of Economy and Sustainable Development of Georgia, Vice Prime Minister Levan Davitashvili. Representatives of the state institutions of both countries discussed bilateral cooperation, trade, investment, communication, energy, agriculture, environmental protection, development cooperation, foreign and regional security policies.
During the meeting, Minister A. Armonaitė emphasized that Lithuania consistently supports Georgia‘s European and transatlantic integration efforts. According to the minister, the favorable investment and business environment of our country can help Georgia‘s startups and businesses to open access to the market of the European Union, having population of more than 500 million.
"Although Lithuania and Georgia are separated by about 3,000 kilometers, we are nations that value freedom and bravely fight for it. The potential of our countries is huge, so we should try to connect and strengthen our economies even more firmly", says Minister of Economy and Innovation A. Armonaitė.
During the discussions, it was emphasized that Lithuania is open to cooperation in innovation, digitization, high technology and other areas that are important for the economic and social development of each country. This promotes government transparency, the implementation of innovative solutions in the public sector and reduces the bureaucratic burden.
According to the representatives of the Lithuanian and Georgian delegations, it is necessary to raise awareness about the potential of our countries by organizing bilateral trade missions, business forums and meetings, as well as participating in specialized exhibitions and fairs, sharing experience and information in the field of trade and entrepreneurship. The importance of promoting bilateral tourism was also discussed at the meeting.
In 2022 January-November compared to the same period in 2021, the turnover of bilateral trade with Georgia increased by almost 49 percent and amounted to about 116 million euros. Georgia‘s direct investments in Lithuania amount to about 9.4 million euros.
The current volume of trade could also be increased by expanding the range of goods traded between the two countries. For example, Lithuania is ready to offer a wide range of Lithuanian products to the Georgian market: meat and dairy products, confectionery, grain products, beer, preparations used for animal feed and other agricultural products.
After the meeting, a protocol defining the ambitious agenda of bilateral sectoral cooperation was signed. It was agreed that the next meeting of the Economic Cooperation Commission will take place in 2025 in Tbilisi.
