UAE President Welcomes Georgian PM for Strategic Talks

UAE President Sheik Mohamed bin Zayed Al Nahyan met with Georgian Prime Minister Irakli Kobakhidze to strengthen their nations’ partnership. This meeting builds on last year’s Comprehensive Economic Partnership Agreement (CEPA). Sheik Saif bin Zayed Al Nahyan and Sheik Hamed bin Zayed Al Nahyan joined other top Emirati officials at these important talks that explored collaboration opportunities in various sectors.

The diplomatic efforts between both countries have created new possibilities in trade, investment, agriculture, and renewable energy. Abu Dhabi Ports Group’s investment shows real progress with their Tbilisi Dry Port project that will open in 2025. The growing economic bond between these nations becomes even clearer with EMAAR’s upcoming multi-billion investments in Georgia.

UAE President Sheik Mohamed Hosts High-Level Meeting

Leaders from both nations met at Qasr Al Shati in Abu Dhabi for crucial discussions. They explored opportunities to improve cooperation in investment, trade, economy, agriculture, renewable energy, and sustainability.

Several prominent UAE officials attended this important gathering. Lt. General Sheik Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior, and Sheik Hamed bin Zayed Al Nahyan, Managing Director of Abu Dhabi Investment Authority, represented the UAE. Prime Minister Kobakhidze led the Georgian delegation along with key ministers and senior officials.

Both nations signed a memorandum of understanding that focused on development projects in Georgia. Sheik Mohamed reinforced UAE’s steadfast dedication to building reliable international partnerships. He pointed to the detailed Economic Partnership Agreement as a milestone achievement in their bilateral relations.

Georgia’s Prime Minister thanked UAE’s leadership and emphasized his country’s commitment to deepening their partnership with one of the world’s leading nations. Their discussions covered regional challenges and opportunities that could benefit both countries.

Economic ties between these nations continue to grow stronger. UAE ranks as Georgia’s sixth-largest global investor and accounts for five percent of its total FDI. Their bilateral investment reached USAED 3.67 billion by the end of 2021.

Strategic Partnership Developments

UAE and Georgia’s mutually beneficial alliance has reached new heights with the most important economic developments. The Comprehensive Economic Partnership Agreement (CEPA) took effect in June 2024. The agreement wants to triple non-oil trade to USAED 5.51 billion within five years. UAE businesses now have privileged access to Georgia’s growing consumer base as the agreement includes over 92% of tariff lines.

EMAAR Properties has made a bold move with their AED 22.03 billion investment commitment in Georgia. Their investment plans include multifunctional development projects across Tbilisi, Batumi, and Gonio. This is a big deal as it means that this is the largest foreign investment deal since Georgia gained independence. Georgia’s Economy Minister expects this investment to add about 1.5% to the country’s economic growth.

Masdar has strengthened the partnership by signing an agreement to develop Georgia’s largest utility-scale solar power project. The 100-megawatt solar photovoltaic plant will help improve Georgia’s energy security and broaden its energy mix.

The CEPA agreement brings several advantages:

• Simplified processes that reduce cross-border trade costs
• Better market access for service providers in finance and healthcare
• Support measures for Small and Medium-sized Enterprises
• More bilateral investments

The Abu Dhabi Investment Authority continues to discuss expanding cooperation in strategic logistics and transport projects with Georgia. UAE stands as Georgia’s sixth-largest global investor, with investments reaching USAED 3.67 billion by 2021.

Major Investment Agreements

EMAAR Properties has committed AED 22.03 billion to Georgia through a groundbreaking investment agreement for mixed-use development projects. The company’s Founder and Managing Director, Mohamed Ali Rashed Alabbar, believes this investment will attract other investors to Georgia. The projects will transform three major locations: Tbilisi, Batumi, and Gonio with urban development at their core.

The Abu Dhabi Ports Group now owns a 60% controlling stake in the Tbilisi Dry Port project. This modern, rail-connected facility will start operations by October 2024. The development plan has three distinct phases:

• Phase 1: 96,500 TEUs handling capacity with 32,000 square meters stacking area
• Phase 2: Additional 10,000 square meters of warehouse facilities
• Phase 3: Expansion to 286,000 TEUs handling capacity with 100,000 square meters warehouse space

These investments create remarkable economic possibilities. Georgia’s largest foreign investment since independence, the EMAAR project will add 1.5% to the country’s economic growth. The benefits go beyond immediate financial returns, as Tbilisi and Batumi expect annual growth rates between two and three percent.

The Tbilisi Dry Port’s location between the Caspian Sea and Black Sea makes it a vital regional transit hub. Direct rail connections to Turkey and Georgian ports of Poti and Batumi link it to European Black Sea ports in Bulgaria and Romania.

UAE and Georgia’s relations have reached a historic peak with exceptional economic cooperation and strategic collaborations. President Sheik Mohamed and Prime Minister Kobakhidze’s complete talks have produced great results in many sectors.

The CEPA agreement is the life-blood that will propel development and triple non-oil trade to USAED 5.51 billion. EMAAR’s AED 22.03 billion investment stands as Georgia’s largest foreign investment since independence and will benefit both countries economically.

Abu Dhabi Ports Group leads the strategic Tbilisi Dry Port project that enhances regional connections. Masdar’s 100-megawatt solar project boosts Georgia’s energy security. These developments will without doubt revolutionize bilateral relations and set both countries on a path to economic growth and shared prosperity.

UAE and Georgia’s stronger partnership shows their steadfast dedication to economic development, green energy solutions, and regional connectivity. Their shared efforts are the foundations of future growth that will benefit both nations and their people.