RIYADH: Bilateral trade relations between Saudi Arabia and Georgia received a boost with the signing of four agreements focusing on industry, energy, and culture during a business forum in Tbilisi.
The deals that were signed during the Georgian-Saudi Investment Forum on Thursday aim to develop, establish, and invest in water and solar energy projects, as well as enhance training and capacities in cultural specialties.
The conference was held in the presence of Saudi Investment Minister Khalid Al-Falih and Georgia’s Deputy Prime Minister, Minister of Economy and Sustainable Development Levan Davitashvili along with several government officials and representatives from the private sector in both countries, the Saudi Press Agency reported.
The meeting discussed funding opportunities, enhancing relations between Tbilisi and Riyadh, and bolstering efforts to develop economic and investment ties between the Kingdom and Georgia.
The gathering emphasized the promotion of quality investments and enabling the private sector to capitalize on opportunities in both countries, SPA added.
Addressing the forum, Al-Falih emphasized that Georgia possesses robust economic fundamentals and many competitive advantages, presenting investment prospects across several sectors, such as transportation, logistics services, agriculture, tourism, culture, and renewable energy.
The investment minister further stated that the two countries share the same strategic goal for the transportation and logistics sector, which is to link Asia with Europe.
Al-Falih affirmed that the Kingdom aims to enhance global economic connections and handle more than 40,000 containers annually by 2030, as planned in the National Strategy for Transportation and Logistics.
Source: Arab News
