BAKU, Azerbaijan, Jan. 25
By Tamilla Mammadova – Trend:
Spain is interested in increasing direct investment flows to finance projects of infrastructure in Georgia, the Spanish Foreign Ministry told Trend.
"There are sectors on which Spanish companies have ample experience that could be of use to Georgia in order to promote its own development, such as infrastructure, renewable energies, water, textiles, consumer goods, agricultural production, food processing, and tourism, in addition to security and defense," the ministry said.
Securing “flagship” contracts could entail a “drag effect” that would encourage other Spanish companies to invest in the country, the ministry said.
"We underline that the interest of the Spanish companies in making business in Georgia is increasing," the source said.
According to the ministry, to encourage it, Georgia has become a priority country for the FIEM (Fondo para la Internacionalización de la Empresa).
Spain maintains diplomatic relations with the Republic of Georgia since 1992. Currently, Spain's relations with Georgia are marked by Spanish membership in the European Union.
Georgia has had a diplomatic representation in Madrid since 2005, but Spain lacks a resident Embassy in Tbilisi, the Spanish Embassy in Ankara being competent under multiple accreditations. Both countries have relied on territorial unity respectively and cooperate successfully in different bilateral areas.
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