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All investment companies of Georgia to receive a full assistance

Economy
hushagir

All investment companies of Armenia and Georgia will receive a full assistance by the competition agencies of the two countries. On November 9, Armenia's State Commission for Protection of Economic Competition and the Georgian Competition Agency signed a memorandum of understanding aimed at establishing bilateral equal and mutually beneficial cooperation in the economic competition field. Artak Shaboyan, Chairman of the State Commission for Protection of Economic Competition, and Nodar Khaduri, Chairman of the Georgian Competition Agency, attached importance to the decisive role of favorable competitive environment for the economic development. They outlined the main directions which will serve base for the new cooperation in the future.  Artak Shaboyan mentioned in his speech that the Armenian-Georgian trade-economic ties have always developed actively and dynamically. “Today there are more than 300 companies in Armenia with the participation of the Georgian capital. Armenian companies as well are quite represented in Georgia, and especially in the recent years the entry of new companies has significantly increased. That’s why we attach a specific importance to the development of favorable economic environment by the existence of equal mutual competitive and favorable conditions”, Artak Shaboyan said. He said the two countries are in the same region and have deep economic ties which will enable to conduct research in this or that commodity market. He assured that if Georgian investment companies meet entry barriers or other competitive problems, they will receive a full assistance by the Armenian competition authorities to quickly and effectively solve the problem. “And, of course, the contrary: we have a lot of companies represented in Georgia. Their interests will also be effectively protected”. Chairman of the Georgian Competition Agency Nodar Khaduri said the MoU will further deepen and strengthen the already existing cooperation. “I am confident that the relations already formed between our countries, as well as the MoU signed today will contribute to further deepening the cooperation in economic competition field in terms of implementing joint functions, exchange of information and etc”, Nodar Khaduri said.