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BUSINESS
GEORGIA TODAY
AUGUST 30 - SEPTEMBER 1, 2016
Georgia, Belarus Strengthen Bilateral Relations BY THEA MORRISON
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he Republic of Belarus opened its first Embassy in Georgia on Thursday and appointed Mikhail Miatlikov as the first ambassador of Belarus to Georgia. The ambassador presented copies of his credentials to Georgia’s Foreign Minister, Mikheil Janelidze. The Minister congratulated Miatlikov on his appointment and wished him success in his work. Janelidze expressed his satisfaction at the decision of Belarus to open an embassy in Georgia, reiterating the hope that Mikhail Miatlikov will spare no effort to further intensify relations between the two countries. Special attention was paid to the upcoming session of the Intergovernmental Commission on Economic Cooperation to be held in early September, as well as to the organization of a national exhibition of Belarus in Tbilisi. The officials exchanged their views on mutual cooperation within international organizations. They also spoke about the ongoing processes in Georgia, the situation in the occupied territories, and various issues of regional importance. Moreover, Georgia and Belarus plan to deepen cooperation in the area of security. The Chair of the State Security Committee of the Republic of Belarus, Valery Vakulchik, also came to Tbilisi
Azerbaijan Requests $2 billion in Agricultural Aid from WTO Continued from page 1
and held a meeting with the Prime Minister of Georgia, Giorgi Kvirikashvili, and the Georgian Head of the State Security Service, Vakhtang Gomelauri, on August 25.
Gomelauri and Vakulchik signed a Cooperation Agreement between the State Security Service of Georgia and the State Security Committee of Belarus. The agreement aims at developing
close cooperation between the parties in an effort to combat terrorism, corruption and other international as well as transnational organized crimes committed against state security.
The WTO has yet to respond to Azerbaijan’s request and Azeri officials have not indicated whether they expect to receive an answer. Azerbaijan has already received EUR 7.2 million in direct aid from the European Union to help develop and overhaul the agricultural industry in the country’s villages. Baku plans to improve sanitation and upgrade the quality of agricultural products coming from its regions. Azerbaijan’s total 2016 budget for agriculture and regional development amounts to USD 15.5 million. The aid request comes amidst mounting speculation that the national currency – the Manat – is at risk of being depreciated after major shortages of foreign currency in the country have led to the development of a black market. Monetary instability has plagued Azerbaijan since early 2015 when declining oil revenues and a sharp decline in remittances from Russia forced the country’s central bank to cut the Manat’s exchange rate against the US dollar. The Manat has since suffered from a rapid depreciation and drained the country’s once vast foreign currency reserves. Since the start of the year, the Manat’s depreciation has caused a total capital loss of USD 670 million.