Georgia-U.S. Economic Partnership in 2017
Throughout 2017, the Embassy of Georgia to the United States kept working with the U.S. Chamber of Commerce, Department of State and other agencies with the aim of deepening bilateral trade relations via widening a High-Level Trade Dialogue (HLTD), carrying on the consultations within U.S.-Georgia Strategic Partnership Charter framework, and communicating directly with the American companies. In order to attract American companies’ investment and trade interest in Georgia, the Embassy organized a number of two-side visits, as well as several large conferences, and number of introductory seminars and meetings in various large American cities.
Bilateral Cooperation
In 2017, the partnership between Georgia and the United States in the economic and trade sector kicked off with the visit of two American companies, Agile Precis Ventures and Barlett & West to Georgia, after which Agile Precis Ventures director Sean Hamilton established a representative office in Georgia to explore business opportunities there.
Later, twelve U.S. companies visited Georgia on a U.S.-certified trade mission with the aim of exploring investment opportunities, and met with the multiple governmental and private sector representatives.
The U.S.-Georgia Chamber of Commerce, which unites around 200 American companies operating in Georgia, paid an official visit to Washington, D.C. The Chamber leadership met with more than 50 officials from the U.S. Congress, the executive branch of the U.S. government, and private companies.
Overseas Private Investment Corporation (OPIC) doubled the limit of loans granted to Georgian enterprises resulting from consultations with the Embassy of Georgia and the demonstrated success of previous OPIC-sponsored projects in Georgia. The loan limit increased to USD 1 billion and will warrant funding for additional sizable projects in Georgia.
U.S. Assistant Trade Representative for Europe and the Middle East, Daniel Mullaney and Director for Europe and Middle East Affairs at the Trade Representative’s Office Jason Buntin’s official visit to Georgia entailed meeting with the Ministry of Economy of Georgia and other relevant governmental agencies.
Conferences
The Embassy of Georgia, in cooperation with the Heritage Foundation and German Marshall Fund, organized the first annual conference on Georgia, “25 Years of U.S.-Georgia Relations.” The conference addressed political issues as well as the prospects for strengthening economic partnerships. The conference was divided into two sessions: 1. Political and Security Cooperation: Forging a More Democratic and Peaceful Future 2. The Next Chapter in Georgia’s Economic Success Story: A Strategic Gateway for Regional Commerce.
In cooperation with the embassies of Azerbaijan, Turkey, Kazakhstan, Afghanistan, Turkmenistan, the Georgian Embassy organized the second annual Regional Transport Forum — Trans Caspian East-West Transit Corridor — in Washington, D.C. The forum aimed to introduce the sizable American companies functioning in Europe and Asia to the new regional transit corridor opportunities and their commercial potential.
The U.S. Department of Commerce organized Commercial Law Development Program (CLDP) workshop in franchising for Georgian companies in Tbilisi/Georgia alongside the trans-Caucasus regional exhibition on franchising “BuyBrand Transcaucasia”.