Georgia–Spain relations

Georgia-Spain relations

Georgia	Spain

Georgia–Spain relations are the bilateral and diplomatic relations between these two countries. Georgia has a embassy in Madrid, also accredited for Andorra, Algeria and Morocco and two consulates in Barcelona and Seville. Spain does not have an embassy in Georgia, but the Ankara embassy, Turkey, is accredited for this country. Spain does have a consulate in Tbilisi.

Diplomatic relations

Spain maintains diplomatic relations with the Republic of Georgia since 1992. Currently, Spain's relations with Georgia are marked by Spanish membership in the European Union.

Georgia has had a diplomatic representation in Madrid since 2005, but Spain lacks a resident Embassy in Tbilisi, the Spanish Embassy in Ankara being competent under multiple accreditation.

Economic relations

In 2014 the growth of the Georgian economy stood at 4.8%, this recovery occurred, despite the crisis of Russia - Ukraine, thanks to the rebound in consumption, in investment Private and exports. Certain structural vulnerabilities remain in the financial sector (high dollarization, short-term liquidity and high banking concentration). Among the sectors that have contributed the most to growth, construction, retail trade, and manufacturing are noteworthy.

Georgia has undergone a positive evolution of its economy but still needs to undertake structural reforms that, as it has as its objective in its medium-term program, allow it to increase economic growth and make it more inclusive, to create employment and at the same time strengthen its successful policy monetary with its flexible exchange rate, maintaining its strong foreign currency reserves and inflation ceiling.

Poverty rates have declined significantly in the last five years, in 2012 extreme poverty stands at 3.7% (last data), although rural areas continue to show significant relative poverty. This reduction is mainly due to social assistance policies.

Economic relations are limited, however, a growing interest of Spanish companies is detected, attracted by a considerable improvement of the climate for foreign investments. As of July 1, 2011, an Agreement is in force to avoid double taxation between Georgia and Spain. On March 10 and 11, 2014, Spain and Georgia signed two Memoranda of Understanding (MoU): MoU for Cooperation in the Economic Area and MoU the Tourism Area.

In 2014, Spanish exports to Georgia amounted to 58.8 million euros (€ 78.8 M 2013), which represents a decrease of 25.4%, while imports made by Georgia from Spain have reached 81, 43 million euros (€ 29.32 million in 2013), which represents the largest increase in recent years with 177.7%.

Declarations, treaties and signed agreements

• Agreement on cultural, educational and scientific cooperation, Signature: March 11, 1993, Effective: June 12, 1996, B.O.E.: December 3, 1996.
• Agreement to avoid double taxation and prevent tax evasion in matters of income and property taxes. Protocol, Signature: June 7, 2010, Effective: July 1, 2011, B.O.E.: June 1, 2011