Azerbaijan is Georgia's largest foreign investor

Tbilisi, March 13, AZERTAC The volume of direct foreign investment (FDI) in Georgia in 2016 amounted to 1.6 billion US dollars, which is 22 percent higher than in 2015. Azerbaijan invested $578 million in Georgia last year, which makes up 35% of total investments, becoming the country`s largest foreign investor. Turkey with 272 million US dollars (%17) and the UK with 121 million US dollars (7%) are second and third largest investors of Georgia. Azerbaijan and Georgia established diplomatic relations in 1992. The countries are actively cooperating in trade, transport and energy spheres. Currently, the countries are involved in a number of regional projects such as the Baku-Tbilisi-Kars, Baku-Tbilisi-Erzurum, and Southern Gas Corridor. Azerbaijan mainly exports petroleum, petroleum oils and gases, gypsum, anhydrite, plaster and other products to Georgia, while motor cars, livestock, bars and rods of iron, as well as cement, make up the majority of imported goods from Georgia to Azerbaijan. Azerbaijan’s state oil company SOCAR is deeply involved in the energy market in the neighboring South Caucasus country.