The FINANCIAL — Previous four years proved that relationship between Georgia and Israel moved to a new stage of development. Recent reforms realized in Georgia facilitated creation of favorable conditions for business development in the country.
New perspectives, in terms of investment-making in Georgia were observed in July, 2004 after Mikheil Saakashvili’s visit to Israel. Partnership between the two states became more active in the economy and tourism spheres.
Development of economic relations between the two countries was also seriously affected by the introduction of 90-day visa-free regime for the citizens of Israel by Georgian government in 2005.
2006 and 2007 were the years of investment-making in Georgia and Israel had serious contribution in this process. A big flow of Israeli investments entered the country. Currently, 9 various groups of Israeli businessmen have signed contracts and launched 9-million dollar investment in Georgia. Israeli businessmen mainly invest in the construction business, construction of roads, agriculture and small and middle-size businesses.
Israel takes an active part in the development of Georgian infrastructure.
Israeli company is in charge of the construction of Tbilisi-Gori motorway.
Georgian Airways has been performing three Tbilisi-Tel-Aviv flights a week since last summer, while the Israeli company Arkia – one flight a week; this proves how close relations between the two states are.
Reforms and basic changes taking place in Georgia never stay unnoticed in Israel. Many of Israelites are willing to travel to Georgia. In the last four years, the number of Israel tourists has increased by ten times in Georgia. It is interesting that Israeli tourists arrived here are not only Georgian Jews.
I have traveled almost in the whole Georgia and I can assure you that Georgia is a very beautiful country with the biggest potential in tourism. There is no region in Georgia which would not attract foreign tourists. Huge number of historic monuments and beautiful nature raises interest towards this country“- declared Shabtai Tsuri, an Israel Ambassador in Georgia“.
Visit of Georgian President Mikheil Saakashvili in Israel
Mikheil Saakashvili, the president of Georgia visited Israel between October 31 and November 2, 2006. This visit was another important event in the history of relations between the two countries.
One of the leading universities of Israel – Haifa University granted the President of Georgia with the title of an Honored Doctor of Philosophy for the contribution to establishing democracy in Georgia and the success achieved in the judicial system and human rights protection, state management, reforms in the economy and educations spheres, merit in the development of Israel-Georgia relations and friendly relations with Haifa University.
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