Azerbaijan, Baku, 8 July / corr. Trend I.Khalilova / The Azerbaijani Export and Investment Promotion Fund (AZPROMO) is prepared to hold the first Azerbaijani and Georgian business forum in autumn, Emil Aliyev, director of the Export Promotion Department of AZPROMO, said. This proposal was made by the Azerbaijani Ministry of Economic Development.
Taking into consideration the country's success in the field of construction, domestic service (production of electrical appliances, home and office furniture), Azerbaijani companies could offer theirs services in these fields.
Aliyev considers opening of AZPROMO Office in Georgia as urgent, as it could present interests of local companies and assist in finding contacts in Georgian business circles
"At present, companies, represented at the Georgian market, operate independently and do not need support," AZPROMO representative said.
The projects of the State Oil Company of Azerbaijan Republic (SOCAR) are being realized in Georgia. Furthermore, the International Bank and the Caucasus Development Bank have their offoces in Tbilisi.
However, there are potential Azerbaijani investors, who desire to establish a company in different spheres in Georgia.
"We met with them, as they also want to take advantage of Georgian TBC Bank's presence at the Azerbaijani market, Zezva Tziskarishvili, deputy director general of TBC Bank, which possesses 75% of capital shares of TBC Credit non-bank loan organization, said. We have opportunity to finance projects in Georgia and to take real estate as a security in Azerbaijan. It is too convenient for the Azerbaijani investors, enabling them to take a loan in Georgia putting real estate in Azerbaijan as security."
According to Tziskarishvili, the Azerbaijani and Georgian investors show interest in the realization of joint projects on trade and production. They want to promote their goods in the Azerbaijani market and TBC Bank will actively assist them in the investment process in Azerbaijan through financing via subsidiary company of TBC Credit in Azerbaijan.
"It is only the beginning and I think that the presence of many investors of Azerbaijan and Georgia in in the markets of each other will be a good factor for us and favor the integration," Tziskarishvili said.
The current exchange rate for US dollar was AZN 0.809 on 8 July.
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