Tbilisi, October 4, 2024—Georgian First Vice Prime Minister and Minister of Economy and Sustainable Development, Levan Davitashvili, hosted a high-level meeting in Tbilisi today with Hassan Moejeb Alhwaizy, Chairman of the Federation of Saudi Chambers, along with a delegation of Saudi investors and government officials. This significant diplomatic and business gathering focused on strengthening economic ties between Georgia and Saudi Arabia, with both sides eager to enhance trade, investment, and cooperation across multiple sectors.
A major point of discussion was the proposal to establish a Georgian bank in Saudi Arabia, a move designed to streamline financial transactions between the two countries and facilitate trade and investment flows. The creation of this financial institution would significantly boost economic cooperation, providing businesses from both nations with the infrastructure necessary to foster long-term commercial partnerships.
To ensure the success of these efforts, both sides agreed to form a joint Saudi-Georgian economic team. This team will be directly supervised by Vice Prime Minister Davitashvili and will focus on managing economic affairs between the two countries. The initiative aims to tackle any existing challenges and create a more conducive environment for bilateral trade, while also working to attract Saudi investments into key Georgian industries.
In addition to these discussions, the Saudi business delegation held separate talks with officials from the Georgian Ministry of Agriculture. The focus of these meetings was on exploring investment opportunities in Georgia’s growing agricultural sector, particularly in the context of food security. Both sides expressed interest in collaborating on initiatives that would ensure a stable and reliable food supply chain, a critical issue for both countries as they seek to diversify their economies and secure long-term sustainability in the agricultural sector.
The discussions between the two delegations marked a significant step forward in deepening economic cooperation, with both sides demonstrating a commitment to building stronger, more diversified trade relations.
