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Georgia-Italy Business Forum

Forum on the economic links between Georgia and Italy.

Georgia-Italy Business Forum

17th July 2018

 

On July, 17th took place the Georgia-Italy Business Forum in order to put the light on the economic links between Georgia and Italy as well to introduce the strategy of the Italian governement to enhance its economic ties and investments in Georgia.

 

Mr. Mamuka Bakhtadze, Prime Minister of Georgia and Mr. Sergio Matterella, President of the Italian Republic participated in the Forum.

 

Economic links between Georgia and Italy

 

In the EU, Italy is the 3rd partner of Georgia (after Ireland and Germany).

In total, Italy is the 10th partner  of Georgia.

In numbers:

  • Total trade turnover between the countries in 2017: 287 million USD
  • Georgian export to Italy in 2017: 69 million USD
  • Italian import in Georgia in 2017: 217 million USD
  • FDI from Italy to Georgia (2000-2017): 167 million USD
  • Visitors from Italy to Georgia in 2017: 13 425.

 

The sectors defined by the Italian government as their priority. 

 

It was the 1rst Forum between the two countries organised in Georgia and it is the follow up of missions, events, delegations organised beforehand. The Italian government put the light on the fact that this forum was organised to show to the Georgian government that Italy is taking a step further in their relations: they began a new phase.

The Italian side underlined the complementary of their economy in three sectors. That is why they decided to define them as their priority in Georgia:

 

Infrastructure and Construction

 

They have currently 700 projects ongoing on 90 countries and have known 12 years of international growth.

The companies MACCEFERRI and ASTALDI will support this project.

 

Energy and GreenTech

Italy is a quality and technical partner in projects worldwide and one of the best EU performers in the field. 18% of its energy came form renewable energy in 2017.

They stressed the fact that they are using efficiently their gas and oil as well as their sun and water.

 

Agroindustry

They highlighted their excellency in the supply chain.

As well as their know how in machinery. In the EU, 20% market share of food machinery is coming from Italy. Georgia wants to upgrade its technology that is why Italy can be a good example and partner.

The company Ferrero will be one the company dedicated to the growth of this field.

 

Strategy: Actions taken and futur ones

 

Their strategy is to first, increase the bilateral relations with Georgia. The first step was the opening in Tbilisi of the Italian Trade Agency in 2017. They promoted 17 projects during the year. They will also organise a business mission in October in the sectors mentioned beforehand.

The strategy in the long term is to match Georgian industrial needs, to improve the number of Italian companies working in and with Georgia.

The Italian Government decided to commit a special task force to the Belt and Road Initiative in order to support the Italian companies in this project.

 

The current performance of the Italian companies is considered by the Italian government as valuable but there is still a large room for progression according to them.

The Italian president added that Italy will also invest more in the education system of Georgia in order to promote the Italian language and to establish scholarships

 

 

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