On November 20 of current year was held meeting with Minister of finance Kakha Baindurashvili organized by Ministry of Finance and Economy of Adjara and International Investors Association.

The attendees were Minister of Finance and Economy of Adjara Vazha Bolkvadze and Deputy Minister Tamaz Shavadze, the representatives of International Investors Association members, Commerce-industrial chamber of Adjara, Association of builders and developers, the head of pharmaceutics association and local entrepreneurs.

During intense meeting with International Investors Association members were highlighted several problematic issues which was the main subject of discussion on the meeting.

On the meeting Association provided the following issues in written form:

1.  About Bank guarantees;

2.   Depending on custom formalities , issues concerning specificity and services;

3.  Concerning assigning codes to the cargos and use of penalty measures;

4.  The tariffs and fees of Revenue Service;

5.  VAT rate on imported equipment for production and technologies;

6.  The permanent growth of tariffs at port, railway and customs terminals;

7.  About court disputes.

Minister of Finance introduced the priorities of a new Tax and Custom code and set different ways for the resolution of these issues which will be considered during working of a Ministry and promote investment environment in Geogria.

Please check digest No 44

Please check digest No 43...

General Secretary of International Investors Association of Georgia – Mr. Tamaz Shavadze was appointed deputy Minister of Finance and Economy who will supervise investment politic, investment projects, Economic field of the region and existing associations in Adjara, commerce chambers and business unions.

Board of Management, Trustee Board of International Investors Association, its members and stuff would like to congratulate Mr. Tamaz Shavadze upon such a significant position and wish him success in personal and public affair.

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On October 30 of current year was held meeting between International Investors Association and delegation of commerce – industrial chamber from Bursa of Turkish Republic in association office. The deputy Cezmi Aksahin and general secretary of Association Tamaz Shavadze introduced Association’s activity, existing investment environment in the region and ongoing trends. The head of delegation Hasan Baydin noted that he used to be in Adjara in 2004 and is impressed with the changes that have been implemented since then. “The fact that International Investors Association exists in Adjara and successfully operates is very essential factor to me. The unions of investors or businessmen is very important indicator for new phase of business development” – declared visitor. Delegation was invited by Batumi city Hall. They had meetings with Minister of Finance and Economy of Adjara Vazha Bolkvadze and Mayor of Batumi Robert Chkhaidze. The members of commerce-industrial chamber of Bursa are very interested in potential of Energy sector and construction of trade centers.

General Consul of Turkish Republic Tuğrul Ercan Özten held official reception concerning 87^th anniversary of establishment of Turkish Republic in Sheraton Batumi. The ceremony was attended by government representatives, the members of International Investors Association and well-known public figures. International Investors Association congratulates Turkish citizens upon anniversary of establishment of Turkish Republic and expresses hope that existing cultural and strategic relationships between Georgia and Turkey will be more strengthened in the future.

On October 29 of current year transport minister of Turkish republic Binal Yildirim visited Batumi. He was greeted by Head of Autonomous Republic of Adjara Levan Varshalomidze, Governor of Artvin, General Consul of Turkey and other representatives. During the meeting was raised an issue concerning flights from Batumi to Ankara direction. It is equally important for both sides as it is often used internal flights mode in the airport. After meeting Minister of Transport crossed the border via Sarfi customs and attended the launching ceremony of Khopa-Borchkhi tunnel construction.

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On October 28, 2010 at 17.00 will be held board of management’s meeting on following address: Gogebashvili St. #60 Association’s Office.

Association asks its members to send the issues which they would like to discuss during the meeting.

Meeting Agenda

1. Report on Association activity;

2. Issues raised by investors towards government departments;

3. To chose  members for participating in a working Economic reforms committee of Georgian Parliament;

4. To accept new candidates for association membership;

5. To implement changes in Board of Management;

6. To organize general meeting in November;

7. Cooperation Memorandum between IIA and Adjara subsidiary of International fond of migration;

Other issues.