BAKU, Azerbaijan, March 20
Tamilla Mammadova – Trend:
Slovakia was the 5th largest investor in Georgia in 2Q2020, the Ministry of Foreign and European Affairs of the Slovak Republic told Trend.
The ministry said most investments belonged to Gino Holding company.
According to the source, establishment of a Deep and Comprehensive Free Trade Area between EU and Georgia, and thus elimination of tariffs and non tariff barriers, was a starting point for the intensification of trade relations also between Slovakia and Georgia.
"Since then, the volume of investments has been growing gradually every year and despite the pandemic in 2020 and low FDI inflows to Georgia in general, preliminary data shows that Slovakia's volume of investments was around 15 million euros in 2020," the ministry added.
However, it must be mentioned that the trade turnover between the Slovak Republic and Georgia still does not correspond to the potential of economy of both countries and reached only around 16 million euros in 2020, the source added.
Bilateral relations between Georgia and the Slovakia as well as cooperation within international organizations have been developing dynamically. Up to 10 international treaties and several inter-agency agreements form the legal basis for fruitful cooperation in the areas of economy, culture, defense, etc.
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