1. Vice Foreign Minister Lee Tae-ho and Deputy Minister of Economy and Sustainable Development of Georgia Genadi Arveladze signed the “Agreement between the Government of the Republic of Korea and the Government of Georgia on Economic Cooperation” at the Foreign Ministry in Seoul on March 11.
※ Date and venue: March 11, 09:50~10:20, Reception Hall on the 18th floor of the Foreign Ministry building
※ The agreement will take effect 30 days after the two countries notify each other of their completion of domestic procedures necessary for the entry into force of the agreement.
2. In the agreement, the ROK and Georgia agreed to explore the possibility of joint projects in areas of mutual interest, including investment, trade, tourism and industry, and to continue to strengthen economic cooperation, including people-to-people exchanges between the two countries.
o The ROK and Georgia will establish a joint committee to effectively implement the agreement and to explore ways to increase economic cooperation between the two countries.
3. The conclusion of the agreement with Georgia is expected to expand economic cooperation between the two countries, including by helping Korean companies increase presence in Georgia.
4. The two countries also agreed to start negotiations to conclude an ROK-Georgia investment promotion and protection agreement at a mutually convenient time.
* unofficial translation