Economic integration

Azerbaijan and Georgia can deepen regional economic integration through cooperation

Georgia might be able to strengthen regional economic integration by collaborating with Azerbaijan. , said Elshad Mammadov, deputy director of the Russian School of Economics and professor at the Azerbaijan Economic University.

According to him, Azerbaijan has positioned itself as a country that pursues a balanced and pragmatic foreign economic strategy thanks to the effective approach of President Ilham Aliyev.

Therefore, cooperation between Georgia and Azerbaijan can have a positive result in a variety of spectrums of the current agenda.

“Azerbaijan is a key country for Georgia from the point of view of investments. Also, from the point of view of export deliveries, Georgia is important for Azerbaijan,” Mammadov said.

He added that, at the same time, regional cooperation should focus more on major joint investment projects related to the development of the real sector of the economy, because without the creation of regional industries and powerful production centers , it is difficult to achieve sustainable competitiveness.

“The main cooperation projects between Georgia and Azerbaijan should be of the nature of investments in the production of high value-added products, processing sectors. In this context, more investments in recycling are needed. This applies to agriculture, industry, energy,” Mammadov noted.

According to the economist, it is necessary to achieve regional economic integration on a larger scale, in which it would be desirable for Georgia and Azerbaijan to participate.

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