Meeting of the Government as of November 3, 2010

Meeting of the Government as of November 3, 2010 On November 3, 2010 was held the meeting of the Georgian Government. The agenda included 56 items.

Before commencing the meeting, Nika Gilauri, the Prime Minister of Georgia summed up the business visit of government delegation of Georgia to China and India. We suggest Nika Gilauri's speech:

"Before discussing the issues of government meeting, I'd like to provide the society and members of the government with some news. First of all, I want to sum up the governmental visit to China and India. The second news I'd like to inform the society is about the latest data of Statistics Department in connection with economic growth during 9 months. As for the visits to India and China, I want to note that these visits served to different purposes. We held the political meetings in China as well. It's worth noting that the great support was expressed for territorial integrity of Georgia at all levels in China.

We had the meetings with Prime-Minister of China, as well with the several other ministers. The great support was expressed for deepening the economic and political relations between Georgia and China at all meetings.

During 2008-2009 we had the main visits to International financial Organizations such as World Bank, Asia Development Bank, EBRD. During this period of time, in the terms of global investment crisis, there were some amounts still available that could be attracted to Georgia. I think we have done it quite well and considerable amounts have been attracted to the country from International Financial Organizations in water and road infrastructure, as well in energy sector. The investments are made with regard of these sectors in Georgia.

During the certain period of time we made intensive visits to Arab countries, because there were some oil amounts still available that could be attracted to Georgia. We have successful outcomes with this regard as well. Not only the trade between Arab countries and Georgia, but the export from Georgia to Arab countries and investments from Arab countries to Georgia are increasing.

When we reviewed these years of 2009-2010, it turned out that China and India are distinguished by the most growing and stable economy, with the large investment capital. We considered it necessary to make visit to both of these countries in order to attract additional investment amounts to Georgia.

We held meeting with many companies in China and India. The sole purpose of visiting India was to convene the business-conference under Financial Times. We have several specific projects on which we are working with Chinese and Indian investors. There are more than 10 projects, including the broadening of the present port or construction of the new one, as well construction of the new gigantic trade centre and new metallurgical factory, etc. There are some projects under negotiations. Of course all the projects will not be and could not be carried out. Now it's necessary that our embassies and the Ministry of Economy will begin intensive workings with the investors thereof as the projects to be implemented and money will be invested to Georgia. in order to create more working places in the country and reduce the unemployment. This is our goal. Visits to China and India are serving to this goal.

We suppose, as the result of the visit thereof it's easily possible to attract more than 0.5 billion dollars to Georgia for the nearest 2-3 years.

India and Chinese companies are interested in Georgia with two points of view- Georgia as the transit country. It's very important, the trading of China and India is huge and the other side between turkey and European Union countries. Consequently, Georgia has the possibility to apply maximally ports' potential, railway potential, as well airports and other logistic centers potential. The second interest is Georgia as the platform. New enterprises shall be established in Georgia, as well creation of working places here and exporting the products made by India and China to Turkey, Ukraine, Eastern European Countries and European Union.

This is the Chinese and Indian companies' interest toward Georgia, and we believe the large investment projects implemented by Chinese and Indian c companies will be apparent in the nearest future.

The second news I'd like to provide the society and members of the government is the newest information of Statistics Department regarding the increase of Gross Domestic Product. This is just forecast and is not the last figure. According to the forecast, the economy of Georgia increased with precisely 6 % during 9 months. This is not negative figure, it characterizes economic activity well.

I'd like to remind you, that we ended the last year with minus 3, 9%. This year was good and fast, just the first three quarters. I hope that according to the final annual data, the economic growth of the country will be minimum 5, 5%, and maximum 6%. "

Prime Minister's Press Service