Georgian President Saakashvili tours Dubai World projects

Their discussions focused on the establishment of active trade and investment links that would help boost the economy of the Eurasian nation which shares borders with Turkey, Russia, Armenia and Azerbaijan.

Present at the meeting were Salma Hareb, CEO of Jafza and Economic Zones World, and other senior officials from group business units.

President Saakashvili, who is on an official visit to the UAE, is leading a powerful delegation that includes the Deputy Speaker of Georgia's Parliament and Chairman of the Chamber of Commerce & Industry, Jemal Inaishvili, and other officials.

They were briefed on the pivotal role that Jebel Ali Port and Jafza play in promoting cross-continental commerce, leveraging Dubai's strategic location that straddles South Asia, Africa and Central Asia.

Welcoming the Georgian leader and other delegates, Mr Bin Thaniah said: "We are honoured to have His Excellency, President Mikheil Saakashvili, visit Dubai World premises. Our Group's strong performance in strategic sectors such as ports, logistics and real estate has generated tremendous response from around the world. Georgia plays a key role in the continued growth of the Black Sea region. We look forward to exploring commercial and investment opportunities that would mutually benefit both sides."

The CEO of EZ World and Jafza, Mrs Hareb said: "The trade synergy that Jafza offers has already attracted several Eurasian countries. It is a region with which our investment relations are poised to grow at a healthy pace. We welcome Georgia's interest in Jebel Ali Free Zone and the need to harness the potential for increased commercial ties."

HE Mikheil Saakashvili, the President of Georgia, said: "We are extremely pleased to visit Dubai, and the Jebel Ali Port and the Free Zone, in particular, and are looking forward to strengthening our multi-layered ties with the country. Georgia and the UAE have many aspects in common and we have a lot to offer each other in terms of collaborative partnerships in many sectors. This visit has been extremely productive for us and holds vital significance for the two economies."

In 2006, imports and exports accounted for 10 percent and 18 percent of Georgia's GDP respectively. The country's main imports are natural gas, oil products, machinery and parts, and transport equipment.

With a liberalized economy, Georgia is becoming integrated into the global trading network. Last year, its real GDP growth rate reached 8.8 percent, making it one of the fastest growing economies in Eastern Europe.

The World Bank named Georgia "the Number One economic reformer in the world" because it has in one year improved from rank 112th to 37th in terms of ease of doing business.