U.S. President Barack Obama on Saturday hailed the inauguration of Georgia's new president as "the first time a presidential transition has taken place as the result of a peaceful, democratic election." "I extend my warm congratulations to President Giorgi Margvelashvili on his inauguration day," said Obama in a statement by the White House. "Georgia is making significant progress in consolidating democratic institutions, including through its commitments under the Open Government Partnership and its promotion of women's participation in public life, and is moving forward on the path to fulfilling its Euro-Atlantic aspirations," he pointed out. The U.S. established diplomatic ties with Georgia in 1992, following the collapse of the Soviet Union. In 2009, the two countries formed the U.S. -Georgia Charter on Strategic Partnership to work on issues of democracy, security, the economy and trade. "The path to this day was marked by the contributions of many distinguished political leaders over the past twenty years, including outgoing President Mikheil Saakashvili and Prime Minister Bidzina Ivanishvili, who have both played a vital role in strengthening Georgia's democratic institutions, together with civil society and the people of Georgia," Obama went on. He noted that his administration is eager to "continue the strong and deep bonds that the United States and Georgia have enjoyed for over 20 years." "As we mark this momentous political transition, I call on all of Georgia's political leaders to work together, and continue to work with civil society, to build on this achievement," he concluded.