Georgian PM Hails Economic Ties with Kazakhstan

Kazakhstan may top foreign investors in Georgia in 2007, Prime Minister Zurab Nogaideli said after talks with visiting Kazakh counterpart Karim Masimov on April 5.

Kazakhstan was the third biggest foreign direct investor in Georgia last year, with USD 152 million.

?This year we expect even more direct investment from Kazakhstan? I am absolutely satisfied with the dynamic of trade relations, as well as with investments coming from Kazakhstan,? PM Nogaideli said at a joint news conference with PM Masimov.

PM Karim Masimov arrived in Tbilisi on April 4 from the Azerbaijani capital, Baku, where he held trilateral talks with his Azerbaijani and Georgian counterparts.

PM Nogaideli said that the focus is now on the further development of the South Caucasus transit route.

?Our goal is to make this transport corridor not only the shortest route, but also the cheapest and most effective route and we offer Kazakhstan the opportunity to participate in the project not only as a provider of cargo, but also as an investor,? PM Nogaideli said.

PM Masimov said that Kazakhstan was interested in participating in the project. ?We have seen a real breakthrough in bilateral relations in the past two years,? he added.

The Kazakh prime minister is due to visit the Black Sea port of Poti, where the Kazakh side plans to construct a grain terminal. He will also travel to another Black Sea port, Batumi, where a Kazakh state-run company in cooperation with the Greenoak Group plans to construct an oil refinery.

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