1. Insight into the UAE-Georgia relationship in terms of foreign policy. Georgia as a main partner of the UAE in the Caucasus Region.
The UAE-Georgia relationship in terms of foreign policy has been characterized by mutual respect and a shared commitment to common bilateral interests. The two states have successfully led cooperation in many sectors and achieved several fruitful outcomes. The governments of both countries have cooperated in preparing agreements, implementing flexible taxation systems, and reciprocally encouraging each other to allocate investments strategically.
The UAE has long recognized the importance of Georgia as a link between Europe and Asia and its seaports, which serve the whole Caucasus region. These factors make the country attractive for investors and tourists.
The UAE and Georgia have also signed a number of bilateral agreements in wide-ranging areas, covering tourism, culture, and education.
2. Major plans and projects of the Embassy for 2023 and 2024.
Reciprocal high-level visits took place last year, including the visit of His Excellency Irakli Garibashvili, the Prime Minister of Georgia, to Abu Dhabi in October 2022 and the visit of the Minister of State of the UAE to Tbilisi in September. The visits have notably contributed to enhancing the bilateral agenda.
The UAE is committed to strengthening its bilateral ties with Georgia, primarily in trade and investment, as there are many opportunities that can be leveraged in our bilateral economic agenda, including:
A bilateral cooperation agreement in government modernisation and exchange of knowledge was signed on the sidelines of the World Government Summit, and the UAE is committed to further enhancing its bilateral relations across multiple platforms. By the end of this year, the UAE will host the world’s most important climate forum – the 28th UN Climate Change Conference (COP28) in November - and the country is looking forward to the active participation of Georgia.
3. The UAE and Georgia are scheduled to sign a Comprehensive Economic Partnership Agreement (CEPA) in March 2023. We wish to understand in more detail the collaborative potential of such an agreement for both countries.
The UAE and Georgia have been enjoying increasing trade and investment flows in recent years. In 2021, both sides agreed to pursue a Comprehensive Economic Partnership Agreement (CEPA) that will build on the deep and evolving trade and investment ties between the two countries. The results of two rounds of negotiations were very promising, and we hope that both sides will have finalized it before the end of the first quarter of this year.
The agreement covers a wide range of economic activities, including trade in goods and services, investment and other areas of economic cooperation and it will provide us with a platform that allows us to promote and enhance economic integration between the UAE and Georgia by reducing barriers to trade and investment.
4. The best investment opportunities for Georgian companies wanting to enter the UAE and reciprocally, the best investment opportunities for the UAE companies wanting to enter Georgia.
Both the UAE and Georgia benefit from strategic geographical locations. The UAE is a leading economy in the region and worldwide, the result of strategic investment in knowledge and innovation.
Notably, more and more citizens and residents of the United Arab Emirates recognize Georgia as an ideal tourist destination and it should be noted that the number of tourist visits from the UAE to Georgia has now exceeded pre-pandemic levels. It’s worth mentioning that the decision to have a visa-free travel agreement and regular direct flights has increased tourist flows from both countries and contributed to enhancing people-to-people ties.
There are vast opportunities to invest in both countries. As for Georgia, it has enormous potential to export its natural resources, including agricultural products and mineral water.
UAE companies with expertise in renewable energy can explore opportunities to invest in Georgia's energy sector and water resources, and there is room for tremendous investment in other segments, including in the logistics, agriculture and food security sectors.
5. Success stories of UAE companies implemented in Georgia + Upcoming investments/projects.
The UAE has invested more than USD 1 billion in Georgia, including in retail, the financial sector, construction, transportation, and real estate.
The UAE has been actively investing in infrastructure projects in Georgia, such as the solar power plant project that will be implemented by Masdar.
Increasing UAE investments in Georgia have been driven by the country's strategic location as a gateway to the Caucasus region and the wider Eurasian market, as well as its attractive investment climate, stable political environment, and growing economy.
6. Final message for Khaleej Times readers who consider Georgia as a potential investment destination.
In recent years, we have seen a growing interest from UAE investors in Georgia, and for good reason. Georgia offers a range of investment opportunities across various sectors, including tourism, energy, agriculture, and logistics, among others. These efforts have resulted in a significant increase in foreign direct investment, with the UAE being one of the largest investors in the country.
The UAE's investments in Georgia are expected to continue growing in the coming years, driven by the two countries' strong economic ties and shared commitment to promoting trade and investment.
