Georgia's location, situated between the Black Sea, Russia, Armenia, Azerbaijan, and Turkey, gives it strategic importance far beyond its size. It is developing as the gateway from the Black Sea to the Caucasus and the larger Caspian region, but also serves as a buffer between Russia and Turkey. Georgia has a long and close relationship with Russia, but it is reaching out to its other neighbors and looking to the West in search of alternatives and opportunities. It signed a partnership and cooperation agreement with the European Union, participates in NATO's Partnership for Peace program, and encourages foreign investment. China, France, Germany, Great Britain, Greece, Italy, Russia, Switzerland, and Turkey maintain embassies in Tbilisi. Germany is a significant bilateral donor. Georgia is a member of the UN, the OSCE, and the CIS. It is an observer in the Council of Europe.