Tbilisi (GBC) - Georgian Deputy Economy Minister Genadi Arveladze emphasised the country’s commitment to harmonising its national energy legislation with European Union directives and regulations after becoming a full member of the Energy Community in 2017, in comments at a informal ministerial meeting of the organisation in Bosnia and Herzegovina on Wednesday.

Arveladze also highlighted the country’s ongoing energy sector reforms, particularly in the liberalisation of the electricity market, announcing the launch of energy exchange system in the country on Monday that he said marked a “significant stride towards the target model” of the electricity market.

Furthermore, the Deputy Minister addressed major energy initiatives, underscoring the strategic significance of the Black Sea submarine cable project for an international infrastructure that aims to create a new transmission route to deliver green energy from the South Caucasus to Europe.

He said the project would not only enhance energy security, but also foster new energy projects, promote green energy exports to EU countries and attract investments in the sector.

Additionally, Arveladze discussed the process of separating transmission system operators and fulfilment of energy efficiency and decarbonisation commitments within the Association Agreement signed with the EU in 2014, as well as Energy Community membership.

As part of the ministerial meeting, Arveladze also met with Artur Lorkowski, the Director of the organisation.