Georgia and Canada sign investment agreement in new round of negotiations

Georgia and Canada continue active negotiations on the draft agreement on the promotion and protection of investments between the countries (FIPA). The sixth round of negotiations was held in Ottawa, which was attended by representatives of the Georgian Ministry of Economy and Sustainable Development. The Deputy Head of the Ministry of Economy of Georgia, Gennady Arveladze, said that the agreement promotes the stimulation of entrepreneurial initiatives and the free movement of private capital between the countries. The main focus is on investor protection mechanisms and the resolution of possible disputes between the parties, which is considered an important condition for the successful development of investment activities.

During the visit, Gennady Arveladze also met with Acting Deputy Minister of Foreign Affairs of Canada, Robert Sinclair. During the meeting, prospects for deepening cooperation between the countries in various fields, such as trade and investment, energy, mining and processing of minerals, transport and relations between Georgia and the European Union were discussed. Particular interest has been shown in the strategic project of the Black Sea submarine cable, which will strengthen Georgia's energy security and ensure the connection of the country's energy networks with the EU.

Georgia and Canada have maintained diplomatic relations since 1992, and during this time friendly and partnership ties have been formed between them. Cooperation between the two countries is enriched with new projects and is rapidly developing, bringing mutual benefits and strengthening economic and political ties.