German companies can provide technology and equipment for Georgia’s competitive industrial sector, the Federal Ministry of Economic Affairs and Climate Policy of Germany told Trend.

The Federal Ministry of Economic Affairs and Climate Policy of Germany supports German companies in taking part in international trade fairs and conducting fact-finding missions, including to Georgia.

“German companies are most interested in cooperation with the Georgian business community. Other promising areas include the construction of high-performance infrastructure and agricultural modernization,” the source noted.

According to the Ministry, Georgia has significantly increased its access to the European Single Market since the free trade agreement with the EU came into force in July 2016, which helped to further strengthen bilateral economic relations with Germany.

“The German Federal Government supports bilateral cooperation through a range of foreign trade and investment instruments, most notably through export credit guarantees and investment guarantees for direct investment by German firms,” the source said.

According to the Ministry, the “German Economic Team Georgia”, an advisory group funded by the Ministry, which provides independent consultancy services on economic policy issues to Georgian government institutions, has been active since 2014.

“Georgia has been a partner in our Manager Training Program since 2016. So far, some 100 business executives from Georgia have taken part in the program,” the Ministry added.

Source: Trend News Agency