A large group of representatives of Russian businesses will attend the forum to study the investment opportunities in Georgia.
The main directions of Georgia's economic policy and an introduction to promising Georgian industrial sectors and investment projects will be presented at the conference. Issues concerning bilateral trade and economic cooperation will be discussed during the meeting as well, the press service of the Russian Economic Development and Trade Ministry disclosed.
Consultations on Russia's joining the World Trade Organization will be held with Georgian authorities.
Georgia has been a member of the WTO since 1999 and has proposed many political demands to the WTO.
The Russian Economic Development and Trade Ministry noted that last year Georgia's economic and trade relationships grew. Georgia's trade turnover with other countries grew to $237.1 million, a 47.9% increase compared to 2002. Its trade balance was positive and was estimated at $70.3 million.
At the same time, only 0.1% Georgia's trade turnover is with Russia. Russia's trade turnover with Georgia is estimated at 15%.
Last year, Russia exported $153.7 million in goods to Georgia, a 68.2% increase from the year. A considerable part of Russian exports were wheat, electricity, chemical industry products, metals, wood and paper.
Russia imported an estimated $83.4 million in Georgian goods, a 20.9% increase from 2002. Russia mainly imported Georgian wines, mineral water, ferroalloys, machines, equipment and transportation means, as well as citrus plants and tea.
"Georgia wants to attract Russian investments in order to create competitiveness for other investors," Georgian Economic Minister Irakly Rekhviashvili said on Rustavi-2 television.
According to him, Russian investors have many advantages: they take risks that neither American nor European investors capable of handling and they know the layout of the Georgian economy.
"We do not fear that Russian investments into the Georgian economy may turn into an instrument of political pressure on Georgia," he said. "We are speaking about the free Russian capital and it is still to early to mention any political instruments that may influence Georgia."
However, after the first Russian business conference in Georgia, Tbilisi had not revealed its business plans.
"We will propose projects concerning developments in the spheres of energy, infrastructure, banking, agriculture, manufacturing and tourism," Mr. Rekhviashvili noted.
Meanwhile, chairman of the parliamentary committee on the budget and financial issues Vladimir Papava called on the government to treat Russian capital with caution.
"There is no transparent capital in the post-Soviet arena," Mr. Papava said on Rustavi-2.
"I understand the Georgian government's willingness to accept a flow of Russian investments in order to overcome certain financial obstacles, however, I may advise the executive bodies to be more cautious and careful in relations with the Russian capital," Mr. Papava said.
"It is very desirable for Georgia to attract American or European investments since they are transparent and civilly business coordinated. However, since these investors are of not interested, Georgia must count on Russia's investments," Mr. Papava said.
