Agreement to Deepen Industrial Cooperation with Georgia

Hungary Today 2023.10.13.

Minister of Economic Development Márton Nagy attended the joint Georgian-Hungarian government meeting from October 11-12, 2023, during which he held talks with Levan Davitashvili, Deputy Prime Minister of Georgia and Minister of Economy and Sustainable Development, reports Világgazdaság.

During the bilateral meeting, the ministers noted that the establishment of cooperation between the two ministries is not new, as meetings and consultations have become a regular feature over the past year.

In this context, future technologies such as artificial intelligence and Industry 4.0 solutions can play a major role.

The two countries’ foreign trade in goods is now close to USD 90 million, and the aim is to increase it substantially in the future.

The Georgian-Hungarian government meeting. Photo via MTI/Miniszterelnöki Sajtóiroda/Benko Vivien Cher

In the framework of the talks, the ministers signed an agreement to deepen industrial cooperation between the two countries, the most important points of which are:

Cooperation in the digital transformation of industry, Industry 4.0 and 5.0, the use of emerging digital technologies in enterprises, especially in manufacturing and services
Collaboration in the development of advanced technologies and innovations for industry, with a particular focus on emerging digital technologies such as artificial intelligence, data economy, Big Data, 5G networks, blockchain, and drone technologies
Collaboration on policies to provide the skilled workforce needed for all of this
Collaborate on sharing regulatory best practices
Industrial cooperation, in particular in the production of transport vehicles such as rail cars and buses
Cooperation in areas related to pharmaceutical and medical equipment manufacturing.

Commenting on the signing of the agreement, Márton Nagy underlined that promoting Hungarian capital investment and facilitating the inflow of foreign working capital remains a priority for the Hungarian government, and it will do its utmost to support it.

Fact

As Hungary Today reported earlier, the decision to hold a joint meeting of the Hungarian and Georgian governments was made during the Georgian Prime Minister’s official visit to Hungary last October, when the two prime ministers signed the Strategic Partnership Agreement. Now, in addition to the industrial cooperation agreement, the negotiations focus on the “Green Energy Corridor – Black Sea Submarine Cable” project that will enable the future transport of green energy from Hungary to Azerbaijan through cooperation between Hungary, Romania, Georgia, and Azerbaijan.

"There Is No Question That Georgia Belongs in the EU"

Judit Varga, incumbent Minister of Justice overseeing EU affairs, had a meeting with Georgia's Foreign Minister, Ilia Darchiashvili.Continue reading

Via Világgazdaság, Featured image via Facebook/Orbán Viktor