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Economy

New Trade Support Programme in Georgia

With the support of EU funding under the EU4Business initiative, the European Bank for Reconstruction and Development (EBRD) has launched the ‘Trade Ready’ initiative in Georgia. The new trade support initiative is aimed at small and medium-sized enterprises (SMEs) working to improve their competitiveness in international markets. Trade Ready has …

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KTW Group Set to Export Georgian Honey to Europe

The KTW Group is set to export Georgian honey to Europe within the group’s social project launched  8 months ago. Zurab Chkhaidze, founder of the group, says in a conversation with  GBC that in the framework of the social project, KTW will help honey producers from Adjara and Guria enter …

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Meeting on Bilateral Relations and Georgia-China Trade Potential Held

Meeting on bilateral relations between Georgia and China has been held today. Chinese delegation from the province of Shanx, city Jannan visited Georgia. The sides also evaluated the possibility of increasing import-export and investment in Georgia. “Before we arrived in Georgia we already had specific conversations with Georgian company who …

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ExxonMobil to Study Hydrocarbon Resources in Georgia

On October 23, an agreement on Conducting Fieldwork on Hydrocarbon Resources in Georgia was signed by the LEPL State Agency for Oil and Gas of the Ministry of Economy and Sustainable Development of Georgia and the ExxonMobil. The Minister of Economy and Sustainable Development, Giorgi Kobulia attended the signing ceremony. …

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Competitive Capacity of Georgian Economy Slightly Improved

Georgia Gains One Position in Global Competitiveness Rating and Comes up with Three Leading Countries in Eurasia Region According to the 2018 Global Competitiveness Index, Georgia has gain one position compared to 2017. The report describes competitive capacity of 140 countries. According to this report, Georgia has moved to the …

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Georgia Losing Turkmen Oil Products

Transportation of Turkmenistan oil products through Georgia’s corridor has fallen to the lowest level. Paata Tsagareishvili, founder of Transport Corridor Research Center and HUB Georgia expert told BM.GE that Georgia’s transport corridor is irreversibly losing Turkmen oil products. In January-September 2018 the Trans Caspian corridor handled 1.56 million tons of …

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City Halls Announces Overground Metro Project

City Hall is starting a new, independent, overground metro project from 2019, with the support of the central government. The Mayor of Tbilisi, Kakha Kaladze talked about the presentation of the first stage of the implementation of the Prime Minister’s initiative – Green Policy Action Plan. According to Kakha Kaladze, …

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Exports Increased by 17.1% Y/Y in September

In September 2018, exports increased by 17.1% y/y to US$ 301.7mn, imports were up 3.3% y/y to US$ 711.4mn and the trade deficit was down 4.9% y/y to US$ 409.7mn, according to GeoStat. In September 2018, copper (+63.9% y/y), ferro-alloys (+52.5% y/y), cars (+36.8% y/y), cigarettes (+213.3% y/y) and wine …

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Top 10 Flights Destinations from Georgia

According to the information by United Airports of Georgian, in the last 9 months, the majority of the passengers (455 917 passengers) flew to Istanbul with direct flights. Followed by Moscow with a number of passengers reaching 430 480.  Top 10 direct flight destinations are: Istanbul – 455 917 Moscow …

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What Space of Land Plots Government Sold in January-September

In January-September 2018 the state budget revenues from sold land plots made up 6.607 million GEL. According to the Treasury Service of Ministry of Finance, in January-September 2018 the revenues from decline in nonfinancial assets made up 81.865 million GEL, which is 209.9% of the forecast indicator (39 million GEL).  …

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