Georgian PM, Commerzbank consider business projects

Georgian Prime Minister Nika Gilauri met with the leadership of Commerzbank and representatives of financial institutions during his visit to Germany on Wednesday.

The sides discussed prospects of development and deepening of economic relations between the two countries and the specific business projects.

Gilauri took part in the Georgian-German business forum and spoke to the participants on Wednesday.

Although several German companies, such as Knauf, Caparol and ProCredit Bank operate in Germany, Gilauri expressed the hope that their list will grow.

"The example of Greece, Italy and other countries shows that the world is experiencing tough period," Gilauri said.Meanwhile. "However, the best period has come for investors in Georgia. The country's economy is stable and growing due to reforms carried out in the country. Georgia is among the advanced countries on ease of doing business and the World Bank calls it the number one reformer during the last past five years".

According to Gilauri, Georgia has become a regional hub.

"The infrastructure, tourism, energy and banking sectors are developing very quickly. I can't say, of course, that everything is brilliant, there is still a lot to do. We need even greater development and progress, but I will say that there is no better place to do business than Georgia," Gilauri said.

Gilauri's report was of great interest of the German business circles.

"Germany is interested in economic potential of Georgia. Our second largest Commerzbank have recently opened an office in Tbilisi, which is another indication of our cooperation," Commerztbank Director Ted Fischer said.


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