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On 18 September, Undersecretary of Lithuanian Ministry of Foreign Affairs Laimonas Talat-Kelpša met with Lithuanian entrepreneurs to discuss perspectives of economic cooperation between Lithuania and Georgia. The meeting was organised at the initiative of the Ministry of Foreign Affairs and received a lot of attention of businessmen. Representatives from International Chamber of Commerce, Lithuanian Development Agency, Lithuanian Real Estate Development Association, Lithuanian Builders Association and over 40 enterprises with interests in Georgia took part in the event.

Undersecretary of the Ministry, former special representative of Lithuania to Georgia L.Talat-Kelpša presented the political and economic situation in this country after the military conflict, presented results of a survey on expectations of the Georgian society and the main directions of economy promotion that the Government of Georgia is planning to take.

The Undersecretary of Foreign Ministry indicated that he could see possibilities for Lithuanian business in Georgia.

‘Those willing to take risks should feel great in Georgia today. The Government of Georgia is interested in new investments and is prepared to build a business-friendly environment for investors,’ said L.Talat-Kelpša.

Entrepreneurs raised questions about the sources of reliable information on the possibilities to invest in Georgia, about the areas where donor money would flow, about the possibilities to insure import and export, about the plans of Lithuanian Government to promote investment in this region and whether there would be any financial support for investors.

L.Talat-Kelpša suggested organising a business mission to Georgia, which would help to clarify concrete interests of the Lithuanian business in this country, investment possibilities and the environment in the after-crisis period.

‘If businessmen would define their concrete interests or areas of investment, we could invite a Georgian representative, who would directly introduce plans and actions of the Government of Georgia, as concerns attraction of investment into this country and provision of guarantees to them’, stressed L.Talat-Kelpša.

According to the data of the Department of Statistics to the Government of the Republic of Lithuania, during the first half-year in 2008 Lithuanian export to Georgia amounted to 26,7 million Litas and, as compared to the same time period in 2007, it has increased by almost 60 %. During the first half-year in 2008, Lithuanian import from Georgia amounted to 7,8 million Litas, and, as compared to the first half-year in 2007, it  has increased by 14,2 %. During the first half-year in 2008, Lithuanian and Georgian trade turnover amounted to 34,5 million Litas and, compared to the first half-year in 2007, it  has increased by about 20 %. Lithuanian trade balance with Georgia was positive and amounted to 18,9 million Litas. Lithuania’s direct investment into Georgia on 1 April 2008 amounted to 0,01 million Litas, Georgia’s direct investment into Lithuania amounted to 10 million Litas.