Azerbaijan ranks as Georgia's largest investor

Azerbaijan is the largest investor in Georgia, with investments totaling nearly $4 billion, Azerbaijani Prime Minister Ali Asadov said at the 11th meeting of the Joint Intergovernmental Commission on Economic Cooperation between Azerbaijan and Georgia.

According to the PM, trade and economic cooperation between the two countries is developing with positive momentum and is consistently expanding.

"Georgia is one of Azerbaijan's key trade partners. Over the first nine months of this year, our trade turnover increased by 42%, surpassing the total figure for the previous year and approaching $1 billion. Our cooperation in the investment sector is showing strong momentum," Ali Asadov said.

He noted that the transport and transit sector is one of the most important areas of cooperation between the two countries.

"Our countries continue their joint efforts toward the development of the Middle Corridor. The operation of the Baku-Tbilisi-Kars railway, a vital component of the Middle Corridor, at its full potential, along with the increase in its cargo handling capacity to 5 million tons," Ali Asadov said.

Georgian Prime Minister Irakli Kobakhidze said that energy cooperation is a key component of the strategic relationship between Azerbaijan and Georgia.

He noted the jointly implemented Baku-Tbilisi-Ceyhan oil pipeline, Baku-Tbilisi-Erzurum gas pipeline, Baku-Supsa oil pipeline and Southern Gas Corridor had contributed to energy transit and Europe's energy security for many years.

The Georgian PM also highlighted Georgia's cooperation with Azerbaijan in developing a green energy project aimed at delivering renewable energy to European markets through the South Caucasus.