On Monday, December 23, Alexander Ankvab signed the Law of the Republic of Abkhazia on the Ratification of the Agreement between the Government of the Republic of Abkhazia and the Government of the Russian Federation on trade regime.
Today, the Ministry of Economy of the Republic of Abkhazia signed a licence-agreement "On the use of sub-soil coal-deposits in Tqwarchal for the purposes of exploration, development and mining” with the firm "Natural resources of the Black Sea". The agreement was signed by Minister of Economy of the Republic of Abkhazia, David Iradyan, and General Director of "Black Sea natural resources", Jasvinder Singh. This company is a subsidiary of the company "Natural resources of the Black Sea", which, in turn, is a subsidiary of the Indian Steel Company. The level of investment is predicted to be $ 70-100 million.
The President received the head of the Abkhazian trade mission in the Russian Federation Oleg Bartsits, the executive director of the International cultural and business center of Abkhazia Oleg Lakoba and the director of development of the center Petr Bereza.