300 Companies with Armenian capital opened in Georgia in 2007

300 Companies with Armenian capital opened in Georgia in 2007

Three hundred companies with Armenian capital were opened in Georgia last year, Envoy of the Georgian Embassy Georgy Saganelidze stated at the National Press Club.

He pointed out progress in Armenian-Georgian economic relations over the last three years.
He said that the Georgian side welcomes the fact. Saganelidze also hailed the fact that a large number of tourists visit Georgia.

“We would like to beef up the presence of Georgian capital in Armenia,” he said. The diplomat added that taxation problems impede this process.

“We would like to see Armenia more open, for exporters and importers to feel at ease,” Saganelidze said.

In 2007, Armenian-Georgian trade turnover reached $133.3mln – a 48% annual increase. Armenia’s exports to Georgia totaled $87mln – a 59.2% annual increase. Armenia’s imports from Georgia totaled $46.3mln – a 30.6% annual increase.
In January-March 2008, Armenian-Georgian trade turnover reached $22.5mln – an 8.4% decrease. Exports totaled $13.6mln and imports about $9mln.