- Business Chamber of Asian & Gulf Countries BCAGC Relations between Georgia and the United Arab Emirates Before, During, and After Signing of the Agreement on “Comprehensive Economic Cooperation”

Relations between Georgia and the United Arab Emirates Before, During, and After Signing of the Agreement on “Comprehensive Economic Cooperation”

January 4, 2024
Posted by: Kati2022

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Diplomatic and bilateral relations between Georgia and the United Arab Emirates were established on October 20, 1992, and have been in an active phase since 2006. The intensification of relations was also manifested by the inflow of direct foreign investments from the UAE to Georgia. Since 2006, more than 1 billion dollars have been invested, covering the real estate and retail sectors. “Dhabi Group” and “RAKIA” are the two largest companies of the Emirates, which have invested the largest amount in Georgia. The United Arab Emirates is trying in every way to create additional investment opportunities in other areas.

In this regard, its efforts in promoting the development of the export of mineral and natural water from Georgia are very remarkable. As a result of the mentioned efforts, from February 2022, the Georgian company “Healthy Water Inc” started selling its products, in particular, non-carbonated, natural, mineral water in the trade network of the Emirates company “Union Coop Dubai”, and from February 21, 2023, in one of the Persian Gulf – Georgian mineral water “Nabeglavi” is presented at all major shopping centers of one of the largest shopping chains “Lulu”.

The growing trend of commercial air traffic is also indicative of the strengthened connection between Georgia and the Emirates, as up to 60 weekly flights from Tbilisi, Kutaisi and Batumi to the UAE are completed.

During the cycle of foreign relations, the two countries signed several important agreements and memoranda of understanding, on the basis of which a joint political consultation council was established between the ministries of foreign affairs. The first meeting of political consultations was held in April 2019 in Abu Dhabi, after which the exchange of high-level visits between the two countries actively began.

Since the beginning of diplomatic relations between Georgia and the United Arab Emirates, the Parliament of Georgia, the Government, the Ministries of Foreign Affairs, Economy and Sustainable Development, Environment Protection and Agriculture, Defence and Regional Development and Infrastructure have been intensively participating in the deepening and strengthening of cooperation.

Considering that the Ministers of Economy of Georgia and the Emirates made a decision in December 2020 to start negotiations on a free trade agreement to promote economic, trade and investment relations, it is necessary to focus on reaching an agreement on “comprehensive economic cooperation” between Georgia and the United Arab Emirates and directly on the turning events of the current relations in the process of negotiations chronologically.

September 10, 2020 – The meeting of Georgian Ambassador Paata Kalandadze with the Executive Director of Dubai Investment Corporation, Mr. Khalifa Al Dabouus, at the headquarters of ICD. In order to deepen the economic relations between the two countries, an agreement was reached between the embassy and the ICD regarding the transition to an intensive form of communication.

Relations between Georgia and the United Arab Emirates

September 30, 2020 – A meeting was held between the Ambassador of Georgia, Paata Kalandadze, and the Director General of the Ras El Khaim Emirate Chamber of Commerce, Mr. Muhammad Ali Nusabah Alnaim, who confirmed his readiness to cooperate with the Embassy of Georgia.

October 12, 2020 – The “online” meeting of the Ambassador of Georgia, Paata Kalandadze, with the President of the Chamber of Commerce of the Emirate of Dubai, Mr. Hamad Buamim, and the Director General of the Chamber of Commerce of the Emirate of Fujairah, Mr. Khalid Mohammed Al Jassim. In order to strengthen the possibilities of establishing close relations between the Emirate of Dubai and the commercial circles of Georgia, an agreement was reached regarding the visit of the Dubai Chamber of Commerce and its members to Georgia next year. In order to deepen the cooperation between the Emirate of Fujairah and the commercial circles of Georgia, the parties agreed at the initial stage to activate direct communication between the Chamber and the Embassy and to organize a visit of the delegation of the Fujairah Chamber of Commerce to Georgia (the trade turnover of the said Emirate with Georgia in 2019 is 11.5 million dirhams).

December 10, 2020 – The remote meeting of the Ambassador of Georgia, Paata Kalandadze, with the Vice President of the Dubai Silicon Oasis Authority, and at the same time the Chief Executive Officer, Mr. Mohamed Al Zarooni.

January 19, 2021 – A remote meeting was held between the Ambassador of Georgia, Paata Kalandadze, and the chairman (at the same time, executive director) of the company “Lulu Group International”, Mr. Yusuf Ali. Based on the real, mutual interests of cooperation, the parties agreed on a specific action plan. “Lulu Group International” is one of the largest retail chains in Asia (193 stores). Research firm “Deloitte” named “Lulu Group International” among the 50 fastest growing retail companies in the world.

February 7, 2021 – A meeting was held between the Ambassador of Georgia Paata Kalandadze and the Vice President of the company “DAMAC Properties” Mohammad Baidoun in a remote format. It should be noted that the mentioned company, which was founded in 2002, is one of the largest development companies in the region, which implements projects in such cities as Dubai, Abu Dhabi, Doha, Amman, Beirut, Riyadh and London. During the conversation, a mutual understanding was reached between the embassy and “DAMAC Properties” regarding the continuation of business communication, which should ensure the interest of the mentioned company in connection with the start of its activities in Georgia.

March 2, 2021 – Ambassador of Georgia Paata Kalandadze held a meeting with Tom Harvey, general manager of Spinneys LLC. The mentioned company is one of the oldest retail chains in the Gulf countries, which is the so-called It belongs to the “Premium Brand” category. At the meeting, the parties discussed possible ways of cooperation that will contribute to the distribution of high-quality food and non-alcoholic beverages produced in Georgia in the trade network of the mentioned company.

March 28, 2021- A meeting was held at the Embassy of Georgia with Mr. Ambassador and Mr. Sai Manohar, General Manager of “GRAY MACKENZIE & PARTNERS” company and Mr. Sandeep Satii, Trade Manager of the same company. It should be emphasized that the company “GRAY MACKENZIE & PARTNERS”, which belongs to one of the largest groups of the Emirates, “ADMMI”, is considered one of the serious players in the distribution of alcoholic beverages throughout the Gulf countries. At the meeting, the Georgian ambassador introduced the modern Georgian alcoholic beverage industry to the guests. In order to promote Georgian alcoholic beverages in the local market, Mr. P. Kalandadze spoke about the advisability of establishing business contacts between the mentioned company and the Georgian company, which was supported by “GRAY MACKENZIE & PARTNERS” representatives. Accordingly, a decision was made by the parties on concrete, joint steps, which should contribute to a more diverse presentation of Georgian alcoholic beverages on the local market.

May 17, 2021 – Georgia participated in the Dubai international tourist exhibition “ATM DUBAI”. The Georgian side was represented at the exhibition in the form of the Tourism Administration of the Ministry of Economy and Sustainable Development of Georgia, the Department of Tourism and Resorts of Adjara and private tourism companies (WST Georgia, Guide of Georgia, Georgian Holidays, Voyager, Travel to Georgia 2010, Arrival DMC, The Biltmore Hotel).

June 2, 2021 – The visit of the Ministry of Economy and Sustainable Development of Georgia “Produce in Georgia” delegation, the director of the agency Mr. Mikheil Khidureli and the deputy director Mr. Tornike Zirakishvili, was held in Dubai, which aimed to meet with large companies of different profiles in the host country in order to get acquainted with the investment opportunities of Georgia. The visit was organized by the Embassy of Georgia in the United Arab Emirates. Within the framework of the visit, a meeting was held with such an important construction, development and investment company of the Emirate of Abu Dhabi as “ALDAR Properties”. It was agreed that the business communication between the parties will continue.

October 13, 2021 – Minister of Economy and Sustainable Development Natia Turnava hosted representatives of Masdar, a member company of the largest investment holding of the United Arab Emirates, Mubadala. At the above-mentioned meeting, the parties discussed issues of future cooperation and investment by the company in the energy sector of Georgia. “Masdar” company is one of the leading companies in the world in the direction of renewable energy and sustainable urban development.

September 19, 2021 – A business forum was held in Dubai, organized by the Business Chamber of Asian and Gulf Countries, which was attended by representatives of various Asian companies, foundations, organizations and diplomatic corps. Within the framework of the event, opportunities for cooperation between Georgia and Asian countries, export potential of Georgia, existing investment environment and prospects, as well as trade issues and positive aspects of capital investments in Georgia were discussed. The companies and organizations present at the event had the opportunity to discuss business issues of interest to them and set goals for future cooperation within the framework of discussion and dialogue.

October 27, 2021 – The Ambassador of Georgia to the United Arab Emirates met with the company “K.M. To the executive director of Trading Group”, Mr. Mohammad Koraz, who is the founder and owner of the company at the same time. The mentioned company, which has been operating in the local market since 1973, is one of the country’s largest retail chains (“K.M. Trading”, “Al Safa Supermarket”, “Safa Express”). The company also operates in the Sultanate of Oman under the Safa brand. At the meeting, the issue of placement of Georgian-made food products in the trade network of the mentioned company was discussed, and a joint action plan was agreed upon.

December 9, 2021 – Georgian entrepreneurs made their debut at the international exhibition of organic and natural products of the Middle East held in the Dubai World Trade Center.

December 16, 2021 – Ambassador of Georgia Paata Kalandadze visited the pavilion of the company “DP World” located on the territory of “Expo-2020”. The mentioned company is a United Arab Emirates multipurpose logistics company based in Dubai. The company’s specialization includes cargo services, management of ports and free trade zones. DP World transports 70 million containers annually, which is 10% of global container shipping. The company operates 82 marine terminals in more than 40 countries. Within the framework of the visit, a meeting of the Georgian ambassador with the chairman of DP World company, Mr. Sultan Ahmed bin Sulayem, was held. The parties talked about the issues of possible cooperation between the company and Georgia.

February 1, 2022 – The Ambassador of Georgia visited the Federation of Chambers of Commerce and Industry of the United Arab Emirates, where he was hosted by the Secretary General of the Federation Humaid Ben Salem. At the meeting, the parties agreed to strengthen the economic ties of the two countries, for which it was decided to establish the Georgia-Emirates Business Council.

March 10, 2022 – The Ambassador of Georgia visited “Khalifa Industrial Zone (KIZAD)”, where he was hosted by the vice president of the company, Abdullah Al Hameli. It should be noted that “Khalifa Industrial Zone (KIZAD)”, which was established in 2010 by the company “Abu Dhabi Ports”, is the country’s first industrial, free zone, which offers 100% ownership to foreign investors. Possible directions of cooperation between KIZAD and Georgian companies were discussed at the mentioned meeting.

June 16, 2022 – The First Deputy Minister of Environment and Agriculture Giorgi Khanishvili met with the representatives of the large holding of the United Arab Emirates “Mawarid Holding Investment”, during which the parties discussed the issues of future trade-economic cooperation and investment opportunities in the field of agriculture. Holding “Mawarid Holding Investment” is a union of 10 companies and the main activity is livestock breeding and animal feed production. The holding, which employs 15 thousand people, is actively involved in the implementation of the national food security program of the Emirates. Giorgi Khanishvili provided the representatives of “Mawarid Holding Investment” with information about the projects supporting the development of agriculture and drew attention to the development potential of animal husbandry, sheep breeding and grain crops.

June 21, 2022 – Irakli Chikovani, the head of the friendship group of the Parliament of Georgia with the Federal National Council of the United Arab Emirates, and the members of the group held a remote meeting with their colleagues in an online format. The parties agreed on the prospects of strengthening parliamentary contacts and signing a memorandum of cooperation between the legislative bodies in the near future. The Georgian side is motivated to intensify economic diplomacy, because in terms of trade relations, the Emirates are among the six strategic partners of Georgia.

September 13, 2022 – Prime Minister of Georgia Irakli Garibashvili met with the Minister of State for Economy and Trade of the United Arab Emirates Ahmed Ali Al Saighi. The Prime Minister of Georgia emphasized the great importance of the growing number of projects financed by Arab investments for Georgia. In order to establish a free trade regime between the parties, the beginning of the dialogue was also marked this month. Abdullah Al Mazroui, Chairman of the Federal Chamber of Commerce and Industry, Adel Al Hosani, Director of Operations of Abu Dhabi Development Fund, Sami Edward Adams, Managing Director of Dubai Group, Massimo Falconi, CEO of Etihad Credit Insurance, Dubai Industry and General Director of Export Corporation Said Al Awadi, while on the Georgian side, Vice Prime Minister, Minister of Economy and Sustainable Development of Georgia Levan Davitashvili, Deputy Minister of Foreign Affairs Aleksandre Khvtisiashvili and Extraordinary and Plenipotentiary Ambassador of Georgia to the United Arab Emirates Paata Kalandadze were present.

October 31, 2022 – Prime Minister of Georgia Irakli Garibashvili met with the President of the United Arab Emirates Sheikh Mohammed Bin Zayed Al-Nahiani within the working visit. At the meeting, the main directions of fruitful cooperation between the two countries in various fields were reviewed. At the meeting, Irakli Garibashvili emphasized the importance of creating a free trade zone, which will be a step forward for the promotion and development of economic and trade relations between the two countries. The importance of fully utilizing the great potential in the field of tourism, energy, and transport was emphasized.

November 1, 2022 – The Prime Minister of Georgia Irakli Garibashvili met the Minister of Tolerance and Coexistence of the United Arab Emirates Sheikh Nahyan Mubarak Al-Nahyan, who is the owner of one of the largest investments in Georgia. He has invested 150 million dollars in Georgia. Among the discussed issues were the main directions of existing cooperation between the two countries and prospects for deepening future cooperation.

February 13, 2023 – The Prime Minister of Georgia Irakli Garibashvili met the Vice President of the United Arab Emirates, the Prime Minister and the Ruler of the Emirate of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum. The Prime Minister informed Sheikh Mohammed bin Rashid Al Maktoum about the favorable investment environment in Georgia and emphasized the importance of attracting Arab investments to the country. After the meeting, Revaz Javelidze, the head of the administration of the Government of Georgia, and Mohammad Abdullah Al Gergav, the Minister of Cabinet Affairs of the United Arab Emirates, signed a memorandum of understanding between the two countries on the sharing of experience in the field of development and modernization of state governance.

January 17, 2023 – The Prime Minister of Georgia, Irakli Gharibashvili, met with Hani Weiss, the CEO of Majid Al Futtaim, the owner of the chain of grocery retail and hypermarkets. Among the discussed issues was the increase of the holding portfolio in Georgia and the diversification of existing investments. At the meeting, they discussed the possibilities of investing in hotels and real estate. Majid Al Futtaim is a United Arab Emirates holding company that owns and operates shopping centers and leisure facilities in 17 countries in the Middle East, Africa and Asia. The holding employs 43,000 people. Its income is 8.8 billion dollars. In Georgia, Majid Al Futtaim is the owner of Carrefour hypermarket.

January 25, 2023 – Chairman of the Parliament Shalva Papuashvili met with the newly appointed Ambassador of the United Arab Emirates to Georgia Ahmed Ibrahim Ahmed Taher Al Nuaimi. At the meeting, the growing dynamics of cooperation between the two countries in the areas of economy, tourism, education and culture were positively evaluated. The importance of high-level visits and investments between the parties was once again emphasized.

February 13, 2023 – Prime Minister of Georgia Irakli Garibashvili delivered a speech at the World Government Summit in the United Arab Emirates.

March 9, 2023 – Prime Minister Irakli Garibashvili met with the founder and chairman of the board of directors of “Eagle Hills” and the founder and managing director of “Emaar Properties” Mohamed Ali Rashed Alabar, as well as the Minister of State for Foreign Affairs and International Cooperation of the United Arab Emirates Ahmed Ali Mohamed Abdullah Alsaye. At the meeting held in the government administration, specific projects were reviewed, in which Mohammad Ali Rashed Alabar expressed his desire to invest. The favorable business environment in Georgia and the great potential in the country for the development of resorts were emphasized. Emaar Properties is a multinational real estate development company based in the United Arab Emirates. The company owns more than 30 billion in assets worldwide. Emaar Properties operates in many countries in Asia, Europe and North America. Eagle Hills is a real estate development company of the United Arab Emirates, which was founded in 2014 and has implemented up to 45 projects in 9 countries of the world.

March 17, 2023 – Minister of State for Foreign Trade of the United Arab Emirates, Dr. Thani bin Ahmed Al Zeyudi, paid a working visit to Georgia. On the same day, he had a meeting with the Vice Prime Minister, Minister of Economy and Sustainable Development of Georgia, Mr. Levan Davitashvili. The main directions of bilateral trade and economic cooperation were discussed at the meeting, the importance of signing a free trade agreement between the countries was especially emphasized. The guest from Emirates also held bilateral meetings with the Minister of Environment Protection and Agriculture of Georgia, Mr. Otar Shamugia and the Minister of Regional Development and Infrastructure of Georgia, Mr. Irakli Karseladze. On the same day, a business forum of Georgia and the United Arab Emirates was held in Tbilisi. Vice Prime Minister of Georgia, Minister of Economy and Sustainable Development Levan Davitashvili and Minister of State for Foreign Trade of the United Arab Emirates Thani bin Ahmed Al Zeid addressed the participants of the event. The event was attended by representatives of business chambers of Asian and Gulf countries, who held B2B meetings with large companies and government business chambers of the United Arab Emirates. At the meetings, they discussed the establishment of important ties between BCAGC and the guest organizations, which will contribute to the rapprochement of business circles between the two countries.

March 27, 2023 – Irakli Chikovani, head of the group of friendship with the parliament of the United Arab Emirates, met with the ambassador of the United Arab Emirates to Georgia Ahmed Ibrahim Ahmed Taher Al Nuaimi. In addition to the strengthening of partnership relations, the parties announced the meeting of friendship groups this year and the visit of the Speaker of the Parliament of Georgia to the United Arab Emirates.

June 7, 2023 – The CEO of Alfa Dhabi Holding, one of the largest investment companies of the Emirates, Mr. Hamad Al Ameri, hosted the Ambassador of Georgia to the United Arab Emirates. It should be emphasized that the activity of the mentioned company is equal to 74 billion US dollars. At the meeting, the parties discussed investment opportunities in Georgia. From this point of view, Mr. Ambassador provided the host with full information about the opportunities available regarding the mentioned company’s investments in Georgia. The parties agreed to establish business communication regarding cooperation.

August 9, 2023 – First Deputy Chairperson of the Foreign Relations Committee and member of the United Arab Emirates Parliament Friendship Group Mariam Lashkh held a meeting with the United Arab Emirates Ambassador Ahmed Ibrahim Ahmed Taher Al Nuaimi. At the mentioned meeting, the parties talked about the importance of the negotiations on the free trade agreement between the two countries. It was noted that the negotiation process was completed in an unprecedentedly short period of six months, which indicates the common interest of the two countries. The importance of the participation of parliamentary delegations in the Economic Forum and the Silk Road Conference planned for autumn was also emphasized.

September 13, 2023 – Chairman of the Foreign Relations Committee Nikoloz Samkharadze met with the Ambassador of the United Arab Emirates. Speaking about bilateral relations, the parties noted that the political relations between the countries are at the highest level. The parties talked about trade and economic relations, cooperation in the field of energy and planned bilateral projects. Attention was also focused on the visa-free travel launched in 2022, which facilitated the travel of Georgian tourists to the United Arab Emirates, as well as the arrival of Arab tourists to Georgia.

Despite the COVID-pandemic, since 2020, Georgia and the United Arab Emirates have tried with all their efforts and great determination to create a strong base for strengthening trade-economic and investment cooperation between the countries, which was crowned between the parties on October 10, 2023 in Dubai on “Comprehensive Economic Cooperation” (CEPA) by signing the agreement.

The mentioned event is really “the beginning of a new stage” in Georgia-Emirates relations. It is vital for our country to have open trade relations with a country that “stands at the forefront of innovation and progress, which is a harbinger of hope and optimism.”

The Agreement on “Comprehensive Economic Cooperation” serves to liberalize trade in goods and services and integrates almost all trade-related aspects, ensuring free and fair trade for the parties. It is a mutually beneficial document for both countries, because “Georgia is an interesting direction for Arab business”. In addition, our country has signed a free trade agreement with the EU countries and China, which gives the United Arab Emirates a special opportunity to integrate with these two big markets.

This agreement was signed by the Vice President of Georgia, the Minister of Economy and Sustainable Development Levan Davitashvili and the Minister of State for Foreign Trade of the United Arab Emirates – Thani bin Ahmed Al Zeyud. The Prime Minister of Georgia, Mr. Irakli Gharibashvili, the Vice President of the Emirates, the Prime Minister of the country and the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, participated in the signing ceremony remotely.

The fact was preceded by official negotiations, which began in September 2022. On May 9, 2022, the document of the terms of negotiation of the agreement “on comprehensive economic cooperation” was signed between Georgia and the United Arab Emirates. The final third round of negotiations was held in Tbilisi in March of this year.

It should be noted that the necessity of the agreement was determined by the growing dynamics of trade-economic and investment relations between the parties. According to the information of the Ministry of Economy and Sustainable Development of Georgia, as of the 8th month of 2023, the trade turnover between Georgia and the United Arab Emirates, compared to the same period of the previous year, increased by 72% and amounted to 276.83 million US dollars. Among them, during the reporting period, exports increased by 80%.

According to the data of 2022, the trade turnover between Georgia and the United Arab Emirates, compared to 2021, increased by 92% and amounted to 314.20 million US dollars. Among them, exports increased by 51% to $31.12 million, while imports increased by 98% to $283.08 million.

During the pandemic the trade turnover between the two countries was reduced to 140 million US dollars, by 2022 it has increased almost 2.5 times and reached 314 million.

The volume of turnover has nominally increased in the ten-year perspective – from $222 million to $314 million. During 10 years, the average annual turnover was $215 million. Trade turnover has also increased due to the increase in imports – in 2022, Georgia bought twice as much worth of products from the Emirates than in 2021.

Currently, the UAE accounts for more than 63% of Georgia’s trade with Arab countries, and its investments in Georgia represent 5% of total foreign direct investment, making the UAE the sixth largest global investor.

Table 1. Export-import of Georgia to the United Arab Emirates from January 1, 2012 to 2022. Including January 1 (million USD) Source: Sakstat

export, import

Georgia buys more from the Emirates than it sells

IMPORT

EXPORT

Graph 1. Import and export dynamics of Georgia in the Emirates

(Chart: Radio Liberty Source: Sakstat)

Table 2. Georgia’s trade turnover with the United Arab Emirates in 2012. from January 1, 2022 including January 1 (million US dollars)

Graph 2. Dynamics of Georgia’s trade turnover with the Emirates

(Chart: Radio Liberty Source: Sakstat)

In 2012-2022, the total trade turnover of Georgia and the United Arab Emirates – import and export – averaged 215 million US dollars annually.

1000 USD

It is also very important to predict the prospects offered by the agreement signed between Georgia and the Emirates on “Comprehensive Economic Cooperation” (CEPA)..

On the basis of CEPA, the current non-oil trade between Georgia and the United Arab Emirates is 481 million. 1.5 billion from US dollars. It will rise to the US dollar in five years.
CEPA will accelerate the flow of growing capital to priority sectors of Georgia and the Emirates, such as: agriculture, transport, tourism, renewable energy, retail, digital trade, manufacturing and energy.
After the entry into force of the above-mentioned agreement, 97.5% of Georgian products will be imported from Georgia to the Emirates without tariffs. A market of 10 million consumers with high purchasing power will be opened for Georgia. The agreement covers both trade in goods and other related areas.
According to the Ministry of Economy and Sustainable Development, upon the implementation of the agreement, the import tariff will be removed on such products as: beef and lamb, honey, nuts, mineral water, fruit and vegetable preserves, non-alcoholic beverages, nitrogen fertilizers and textile products.
After the five-year transition period, even more products of Georgian origin will benefit from tariff relief.

According to Davit Tsirdava, the first vice-president of the Business Chamber of the Asian and Gulf countries, it is complex to enter the competition in the Emirates market, because there are three important problems of Georgian products:

Production price – the price of Georgian products is higher than the price of products of certain countries;
Unstable supply – we have a quantity problem for agricultural products, for example, blueberries. They need stable cycles;
Logistics.

According to the data of the World Bank, the largest import partner of the Emirates is China – by 14.9%. Although the Emirates received 51 billion from China in 2021. USD products were bought, i.e. 2475 times more than from Georgia in 2021, “with the implementation of the mentioned agreement and the reduction of technical barriers, the picture can be radically changed in the near future based on the expansion of the export-import scale between Georgia and the United Arab Emirates” – notes the first of BCAGS vice president.

As a conclusion, I would like to remind you that Georgia and the United Arab Emirates have travelled a very long way of relations with their more or less active range. Cooperation between the parties is based on a synergistic connection. Both the states have achieved success in many sectors with joint efforts, respect and commitment. In recent years, the parties have been actively trying to utilize each other’s growing trade and investment potential. It is CEPA that includes a wide range of economic activities that will further strengthen the economic integration between Georgia and the Emirates compared to the previous one. For UAE investors, Georgia is an attractive potential investment destination as our country offers investment opportunities to friends based on interest in a variety of sectors including tourism, energy, agriculture and logistics.

References:

Salian, N. (2023). UAE, Georgia sign comprehensive economic partnership agreement.

https://gulfbusiness.com/uae-georgia-sign-cpa/

UAE, Georgia Sign CEPA Trade Agreement. (2023, October 12). Middle East Briefing.

https://www.middleeastbriefing.com/news/uae-georgia-sign-cepa-trade-agreement/

Deena Kamel. (2023, October 10). UAE expects $4 billion GDP boost from Georgia trade pact by 2031.

https://www.thenationalnews.com/business/economy/2023/10/10/uae-georgia-cepa-deal-to-add-4-billion-to-national-gdp-by-2031-minister-says/

Hatem Mohamed , Tariq Al Fahaam (2023, October 10). Emirates ministers highlight the importance of UAE -Georgia Comprehensive Economic Partnership Agreement.

https://wam.ae/en/details/1395303207886

UAE and Georgia sign Comprehensive Economic Partnership Agreement. (2023, 11 October). Arab News.

https://www.arabnews.com/node/2389076/middle-east

Georgia signs economic partnership agreement with Arab Emirates. (2023, 11 October). Jam News.

https://jam-news.net/economic-partnership-georgia-and-emirates/

Georgia and UAE Sign Economic Partnership Agreement. (2023, 11 October). Caucasus Watch. https://caucasuswatch.de/en/news/georgia-and-uae-sign-economic-partnership-agreement.html
Georgia, UAE officially sign comprehensive economic partnership agreement. (2023, 10 October). Tbilisi,Georgia.

https://agenda.ge/en/news/2023/3786

5% of Georgian products, including beef and lamb, honey, nuts, will enter the United Arab Emirates, a market of 10 million people, when exported from Georgia without tariffs. (2023, October 11). Business Content.

http://businesscont.com/%E1%83%90%E1%83%A0%E1%83%90%E1%83%91%E1%83%97%E1%83%90-%E1%83%92%E1%83%90%E1%83%94%E1%83%A0%E1%83%97%E1%83%98%E1%83%90%E1%83%9C%E1%83%94%E1%83%91%E1%83%A3%E1%83%9A-%E1%83%A1%E1%83%90%E1%83%90%E1%83%9B/