The Bank of Georgia, the largest bank in Georgia, has opened its first representative office in Turkey which was announced during a recent dinner ceremony held by the company in İstanbul.
The Bank of Georgia, the largest bank in Georgia, has opened its first representative office in Turkey which was announced during a recent dinner ceremony held by the company in İstanbul. At the reception, the Bank of Georgia and Turkey’s Aktif Bank signed a partnership agreement on money transfers and insurance policies.
Bank of Georgia CEO Irakli Gilauri noted that the presence of a representative office in İstanbul carries great significance in terms of capitalizing on the business opportunities offered by the strong economic partnership between the two countries. Noting that closer relations have been established between the countries in the past 20 years, he said Turkey is Georgia’s largest trading partner and makes up 20 percent of the country’s trading activities.
“In the meantime, Turkey is one of the countries that sends the most tourists to Georgia. In addition, with $500 million investment in the last five years, Turkey is one of the largest foreign investors in the country,” Gilauri said.
Gilauri said he believes Turkey will continue to be one of Georgia’s most important economic partners in the future, adding, “The projects on petroleum and natural gas pipelines and combining high-speed train lines are the best proof of cooperation.” He also noted that the conditions of a free trade agreement and double taxation agreements between the two countries have significant importance on the investments that will be made in the future, adding that Georgia is pleased with its trading relations with Turkey and wants to further improve current trading activities.
At the reception, Aktif Bank CEO Önder Halisdemir said the low-cost money transfers and insurance services that will be provided will be important to solidify trade relations. “The agreement offers cheaper, faster and safer money transfer while the insurance policies offer inpiduals a way to safely conduct their commercial activities and tourist visits,” he remarked.