The FINANCIAL — “If the Russian market is open for Georgia it will not disturb Georgian-American trade relations”, said David Lee, the President of Magticom and Chairman of the Eurasia Partnership Foundation.
The FINANCIAL — “If the Russian market is open for Georgia it will not disturb Georgian-American trade relations”, said David Lee, the President of Magticom and Chairman of the Eurasia Partnership Foundation. He told the FINANCIAL that any strengthening of Georgia’s economy through increased trade with any country only makes Georgia a more attractive place for American trade and investment. “The very idea that in the 21st century a country must choose between trading with America or Russia is archaic,” he said.
“It is my understanding that the new administration wants businesses to succeed and they are committed to normalizing relationships with all businesses and breaking up cartels. This is good for the country and good for business,” said Lee.
“I believe that the attacks on Mr Ivanishvili as too pro-Russian are motivated by politics and often by those with vested interests who have abused the previous system and have something to hide. I believe this is nonsense and is being used for political purposes. Georgia has an interest in doing business with both American and Russian companies. The United States is the largest economy in the world and I see no reason why the election of the new government would be an obstacle for further trade and a strengthening of ties. It is obvious that a normalizing of relations with Russia would have benefits for the economy and hence be good for American and any other foreign businesses in Georgia,” David Lee said.
“As a US business, Magticom sees the peaceful transfer of power to the new administration as a wonderful achievement that reduces business risk considerably. We have no intention of delaying any of our planned investments in infrastructure and new products. I am delighted that we are now able to carry all the Georgian language TV channels on our MagtiSat service which will enable all Georgians, wherever they live, to receive high quality TV,” Lee added.
“I am not a politician or a diplomat and do not care to speak of diplomatic relationships. However I lived for four years in Sakhalin and three years in Moscow. I believe that the vast majority of ordinary Russians think of Georgia and Georgians fondly and with kindness. They wish to import our products and holiday here as it was before. This is surely a foundation on which the new administration can build a united Georgia that is on friendly terms and trades with all its neighbors, especially with the EU and I hope one day again with Russia,” he added.
“Georgia is now a democratic country and the world watched and took note. As the Co-Chair of the EUGBC DCFTA Committee, I met with EU representatives recently and it is clear that their perception of Georgia and the leadership has changed. Two months ago many people laughed at the prospects of Georgia joining the EU and NATO. No-one is laughing now. A peaceful transfer of power is the best thing that could have happened for business confidence and FDI. Georgia is a “Buy”.”
“For a long time this has been a much greater factor than the state of the diplomatic relations with Russia. After the initial surprise, my colleagues in the United States and other western countries were delighted that the elections accurately reflected the will of the people to be truly democratic and progressive and they look forward to an improved investment climate.”
Due to the uncertainty of the pre-election period and governmental changes in the country, it is possible that some investors lost confidence in doing business in Georgia or suspended business in the country, but David Lee thinks that the political situation is not an obstacle for investors in Georgia.
“The ease of business tables did not reflect the critical lack of confidence in the judicial and tax processes that existed before the election. The successful and peaceful transfer of power sends a signal to the whole world that Georgia is open for business. Georgia is a “buy” and I expect many investors will return and new ones will arrive,” said Lee.
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