Hungarian PM: Georgia Is a Stable, Reliable Country for Business

Hungarian Prime Minister Viktor Orban called on Hungarian investors to begin projects in Georgia in his speech at the Georgia-Hungary Joint Business Forum held in Tbilisi on April 21.

“Hungarian businessmen, please consider Georgia a stable, reliable foreign policy and business country, despite the dispute between Georgia and Russia,” Orban said, adding that the Government of Georgia is implementing a number of reforms to reduce bureaucracy and reform the educational system.

He also discussed Georgia-Hungary relations and emphasized the historically friendly and close cultural ties between the two countries. “I would like to encourage again and again the Hungarian business community to use the possibilities that are here,” Orban added.

The Prime Minister of Georgia also addressed the forum participants. “Hungary is one of Georgia's key trade and economic partners, and the political and economic relations between the two countries will only deepen and grow stronger,” he said.

Kvirikashvili also commended the growing interest of the European business community in Georgia, emphasizing the dynamic development of relations between the two countries and pointing out the importance of deeper economic cooperation.

“Georgia is strategically located at the crossroads between Europe and Asia. By signing the Association Agreement with the EU (including the DCFTA) in 2014, we took a major step towards our European goal. We have made steady progress in establishing European regulations and standards in Georgia,” he said.

Kvirikashvili added that Georgia has one of the most liberal foreign trade policies in the world, which implies facilitated foreign trade regimes and customs procedures, low import tariffs and minimal non-tariff regulations.

Additionally, the Hungarian Minister of Foreign Affairs and Trade, Peter Siarto, stated that Georgia is one of the most important political and trade partners of Hungary in the region. “It is time for business and economic cooperation to be brought to the next level. We are signing an investment protection agreement and opening an €85 million credit line for Georgia,” Siarto announced.

Following the Business Forum, Georgia’s Economy Minister Giorgi Gakharia and Hungary’s Minister of National Economy Mihaly Varga signed the investment protection agreement. The agreement guarantees that investments will not be lost and that they will be protected from fraud.

The Georgian and Hungarian PMs also held a meeting during which the Prime Minister of Georgia underlined successful educational cooperation, enabling Georgian students to study in Hungary's leading schools of higher education.

The officials discussed Georgia's achievements on its path to European integration and Kvirikashvili thanked Hungary for its support in this process.

The Prime Minister of Hungary concluded by reassuring his Georgian counterpart of Hungary's strong support for Georgia's sovereignty and territorial integrity.

Thea Morrison

24 April 2017 18:02