Kazakh-Georgian Committee for Trade-and-Economic Cooperation holds its 3rd sitting
Tbilisi hosted the third sitting of the Intergovernmental Kazakh-Georgian Committee for Trade-and-Economic Cooperation.
Tbilisi hosted the third sitting of the Intergovernmental Kazakh-Georgian Committee for Trade-and-Economic Cooperation.
The sitting was attended by Kazakh and Georgian members of the Committee, as well as by reps of relevant Ministries and Agencies.
The sitting was presided over by S. Akhmetov, Kazakh Minister of Transport and Communications, and G. Arveladze, Georgian Minister of Economic Development.
To ensure further development of mutually beneficial cooperation, the parties discussed a range of critical issues in the realms of transport, trade, investments, energy, finance, and agriculture.
It was pointed out that Kazakhstan with its USD 152 million of investments is the 3rd largest investor of Georgia.
According to Kazakhstan’s data, in 2006 the trade turnover between the two nations stood at USD 45.7 million, down from USD 59.2 million in 2005. The decrease in the foreign trade turnover was conditioned by the curtailment of mineral commodities exports to Georgia.
To further diversify bilateral import-export flows, the sides agreed to keep sending fact-finding missions, and conducting workshops to facilitate exchange of experience and establishment of business ties between businessmen of the two nations. Thus, a business forum is scheduled to take place this coming summer in Astana.
In the realm of transport, the sides agreed to hold a trilateral meeting – along with Azerbaijan – in the city of Aktau in May; the meeting will be focused on enhancement of competitive ability of the container train routes of Akatau-Baku-Poti/Batumi and Aksaraiskaya-Samur-Poti/Batumi, as well as on transport tariff reduction for transportation of certain types of freight across the territories of the three nations.
As for implementation of the project to construct a new railway link Baku-Tbilisi-Kars, the sides have agreed to facilitate attraction of consignors for sending freights both ways.
In the realm of energy cooperation, the parties agreed to further implement the joint project to construct a refinery in Batumi so that Kazakhstan’s oil producing companies could get a direct access to the Black Sea.
Besides, an agreement was reached to keep seeking for economically viable schemes and routes for Kazakhstan’s gas supplies to Georgia.
In the agriculture realm, the sides agreed to submit by the end of 2007 a number of concrete proposals on implementation of the project to construct a grain terminal in the port of Poti. Besides, the Georgian side suggested considering enlargement of agricultural produce supplies from Georgia to Kazakhstan.
In the realm of IT communications, the parties agreed to work out, by the end of 2007, proposals on creation of a new fiber optic channel to link countries of the Caspian and Black Seas basins.
In finance sector, the two Finance Ministries and National Banks have been commissioned to wok out within three months’ time a draft agreement between the Governments of Kazakhstan and Georgia to restructure Georgia’s debt to Kazakhstan.
The two sides also agreed to elaborate by the end of 2007 a draft Memorandum of Cooperation and Understanding in tourism sector. Besides, to get acquainted with the vast potential of tourist destinations in Georgia, the sides agreed to wok on arranging special tours for journalists and businessmen.
The 4th sitting of the Intergovernmental Kazakh-Georgian Committee for Trade-and-Economic Cooperation is scheduled for Q2 2008 in Astana.
Kazinform
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