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Irakli Garibashvili Addresses World Government Summit

Prime Minister of Georgia, Irakli Garibashvili, addressed the World Government Summit on February 13 while visiting the United Arab Emirates. He also held several bilateral meetings.

Prime Minister’s address at the Summit

In his speech at the Summit, the Georgian PM said that his government is “committed to a free market economy and democratic institutions, which is revealed in our multidimensional approach…” He said that Georgia had a double-digit growth last year “despite the grave geopolitical situation and challenges in the region and declining global economic prospects”. He noted that according to IMF projections, in 2023-2027 Georgia will have the highest growth among the countries of the region and Europe.

In this context, he also noted the 100% growth in Foreign Direct Investment and underscored that the Georgian government’s objective is to turn the country into a “multidimensional hub.” He said the government is working to this end with “the world’s leading firms and brightest minds.”

Prime Minister also added that in the recent decade, the government turned Georgia “into one of the best places in the world to do business” and that Georgia offers international firms one of the most competitive environments for business expansion into larger regions, which reduces their operating costs.

According to Prime Minister, to support Georgia’s position as a regional hub for trade and logistics, the “Government invests heavily to develop both soft and hard infrastructure,” naming the development of the Black Sea Submarine Electricity Transmission Cable, Euro-Asian Oil Transportation Corridor, Southern Gas Corridor, Railway modernization, expansion of airports, and building East-West Highway. He said the development of the Anaklia Deep Sea Port would further increase the capacity of both Georgia and the region.

“These projects are especially relevant, given the ever-growing importance of diversifying and expanding Europe-Asia trade routes, also taking into account the fact that the so-called Middle Corridor is considered as a viable alternative to existing routes,”- he noted.

The Prime Minister underscored that the Georgian government “maintains transparency and openness of its work, and sets high standards in the fields of open governance, fight against corruption and safety.” He added: “Considering all the progress we have made today, Georgia aspires to become a member of the EU and NATO. We submitted an EU membership application as a concrete response to the longstanding choice of the Georgian people.” Garibashvili underlined: “We are determined to progress on the EU accession path swiftly, and the candidate status is our next immediate milestone.”

Meetings in the Framework of the Visit

According to the Government Administration, in the framework of his visit, the Prime Minister met with His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President/Prime Minister of the United Arab Emirates, Ruler of the Emirate of Dubai. It was noted at the meeting that Georgia and the United Arab Emirates enjoy dynamic bilateral cooperation, which both sides pledged to develop further.

PM Garibashvili also met with Masrour Barzani, Head of the Regional Government/Prime Minister of the Kurdistan Region of Iraq.

Topics pertaining to economic cooperation were discussed together with the Head of Kurdistan’s Regional Government.

At the meeting with Professor Klaus Schwab, Founder/Executive Chairman of the World Economic Forum in Davos, they discussed productive cooperation.  PM Garibashvili briefed Schwab on Georgia’s favorable investment environment. Georgia’s strategic location was also pointed out. Irakli Garibashvili and Klaus Schwab discussed strategic projects of regional importance.

This post is also available in: ქართული (Georgian) Русский (Russian)

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