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Georgia-Hungary sign investment protection agreement

Monday, April 24
Georgia and Hungary are boosting business relations by signing an agreement on protection of investments that guarantees investments will not be lost and be protected from fraud.

Georgia’s Economy Minister Giorgi Gakharia and Hungary’s Minister of National Economy Mihaly Varga have signed the agreement in Tbilisi.

At today’s Georgian-Hungarian Business Forum high officials from both countries stated they were keen to carry out joint projects and that the just-signed agreement on protection of investments would support this.

Furthermore, at the Business Forum the Hungarian Minister of Foreign Affairs and Trade Peter Siarto announced today that Hungary was opening an €85 million credit line for Georgia.

Trade volume between Georgia and Hungary has been increasing steadily in recent years. In January-February 2017 trade turnover increased by 48 percent year-on-year (y/y) and amounted to $5.15 million.