Italy and Georgia sign cooperation agreement

Rome - On the occasion of the Italy-Georgia Business Forum, SACE (Cassa Depositi e Prestiti group) and Partnership Fund (the Georgian investment fund) have announced the signing of a new cooperation agreement, which seeks to enhance business opportunities between the two countries. The agreement establishes that the two companies commit to promote exports and investments between Italy and Georgia with projects of common interest. This means the exchange of information and the sharing of best practices, including the possibility of utilising innovative advisory and technical assistance services to support companies, especially small and medium-sized enterprises (SMEs), in developing projects in leading sectors, thus fostering the economic growth of the two countries.

The agreement, signed by SACE president, Beniamino Quintieri, and by the CEO of Partneship Fund, David Saganelidze, completes and is complementary to a collaboration which began in 2015. That is when SACE was awarded an advisory contract for the creation and initiation of activities for the new Georgian export agency, controlled by Partnership Fund, to which SACE provided consulting services and a technical training programme. Its objective has been to transfer the tools and the know-how necessary to support Georgian enterprises in the development of their export activities.

"With this initiative, we are adding another element to the effective partnership with the Georgian Fund. We are committing to support the economic and trade relations between Italy and Georgia, thus contributing to the identification of new cross-border opportunities to the benefit of our enterprises," said Beniamino Quintieri. David Saganelidze welcomed enthusiastically the new agreement, saying that it will "enhance the cooperation started two years ago, when we called on SACE as an advisor for the creation of the Georgian export credits agency.

Today, it enables us to effectively support the internationalisation of our enterprises." In a countertrend compared to the complex regional situation, Georgia is one of the most dynamic economies of the Caucasus with a GDP growth rate which is around 3 percent and a business climate in constant growth. This is due to the reforms promoted by its government, and a much greater differentiation of its economy.

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