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Minister of Economy Evaldas Gustas goes on a working visit to Georgia

Date

2015 01 26

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On 25-27 January of the current year, Minister of Economy Evaldas Gustas together with the delegation led by Prime Minister Algirdas Butkevičius is visiting Georgia where he meets with  Giorgi Mergvelashvili, the President of Georgia and Irakli Garibashvili, the Prime Minister of Georgia, and is taking part in the Lithuanian-Georgian Business Forum. A Lithuanian business mission, which includes representatives from food industry, robotics, legal services, information technology and other sectors, is visiting Georgia as part of the official delegation. 

‘Despite the recently growing bilateral trade between Lithuania and Georgia and the strengthening economic cooperation we must nevertheless find new ways to strengthen the cooperation between our countries and make full use of the potential we have. Currently, the most promising sectors of bilateral economic cooperation include food industry, information technology, machinery and equipment, furniture, optical, measuring and medical devices, pharmaceuticals and transport services,’ said Minister Evaldas Gustas.

According to the Minister, the food industry of our country may offer high quality meat and milk production to Georgia. The Information technology sector of Lithuania is ready to share the experience in implementing effective public administration systems and contribute to the development of e-government and business-related solutions  in the management of public institutions of Georgia. In addition, the Lithuanian manufacturers of medical equipment could contribute to the modernisation of Georgia’s medical institutions.

During the visit, the delegations have already met with the Lithuanian entrepreneurs  and the Lithuanian citizens who work in the international institutions in Georgia, there are also plans to visit the Palace of Justice of Georgia and to meet with the founders and representatives of the Baltic Business Association in Georgia.

Georgia is also visited by the representatives of the Government, the Ministry of Foreign Affairs, the Ministry of Transport and Communications, the Ministry of Agriculture and public body Enterprise Lithuania. 

In January–October 2014, the trade turnover of Lithuania and Georgia was EUR 42.91 million. The trade balance with Georgia during the same period was positive and amounted to EUR 16.5 million.

On 30 June 2014, direct investments of Lithuania in Georgia amounted to EUR 3.32 million and the direct investments of Georgia in Lithuania made EUR 0.20 million. Georgia was ranked 63 by size of foreign direct investment in Lithuania and 24 by size of Lithuania’s direct investment abroad.

In January–October 2014, the Lithuanian export to Georgia amounted to EUR 29.7 million and, compared to the same period of 2013, increased by 47.8%. In January–October 2014, Lithuania’s import from Georgia made EUR 13.2 million and, compared to the same period of 2013, increased by 13.7%.