Georgian Economy Minister and Hungarian Foreign Minister discuss growing trade dynamics and economic ties

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The growing trade dynamics between Hungary and Georgia, widening economic ties and the potential for developing closer relations were discussed on Saturday during a meeting between Georgian Economy Minister Levan Davitashvili and the Hungarian Minister for Foreign Affairs Péter Szijjártó.

Davitashvili highlighted the growth of economic indicators in the first quarter of 2022, calling the figures “particularly important” for attracting foreign direct investment, and stressed that Georgia remains an “attractive investment partner” despite the difficult geopolitical situation in the region. Black Sea region.

The ministry said Davitashvili also noted Georgia’s economic policy aimed at increasing the country’s exports to foreign markets – especially European states – and noted that Hungary was an “important partner”, with priority given. increase in Georgian exports to the Hungarian market. He also highlighted the 30% increase in trade turnover between the countries in the first quarter of 2022.

For his part, Szijjártó noted that Hungary “actively” supports the deepening of the partnership between Hungarian and Georgian companies and expressed its willingness to finance their joint business projects.

The parties also declared their readiness to hold a meeting of the Georgian-Hungarian Economic Cooperation Commission in the near future and underlined the importance of the operation of the Hungarian low-cost airline Wizzair in the development of Georgian aviation and tourism markets.

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Laura T. Thrasher