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Georgian President Mikheil Saakashvili (pictured above), along with the other heads of state, was on hand for the event. Ukrainian President Viktor Yushchenko, who was elected the first president of GUAM, told reporters "I am firmly convinced that our region has great potential and that it will become one of the most promising regions in modern Europe. This concerns not only energy or transport projects."
A new name was also coined for the group, the Organization for Democracy and Economic Development, though the GUAM moniker is likely to also remain in usage.
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Ukrainians holding a rally in support of the Republic of Georgia.
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