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Georgia to create special institution for export promotion

A special institute will be created in Georgia in order to promote export, Economy Minister Giorgi Kvirikashvili said Jan.28 after the meeting of the prime minister with members of the economic team of the government.

The meeting was also attended by the head of the National Bank of Georgia Giorgi Kadagidze, Secretary of the Economic Council of Giorgi Gakharia, General Director of Georgian Railway JSC Mamuka Bakhtadze, Director of the Investment Agency Giorgi Pertaya and head of the Partnership Fund Irakli Kovzanadze.

The economic situation in neighboring countries and its impact on the economy of Georgia was discussed at the meeting, according to Kvirikashvili.

“We evaluated the degree of this influence on our economy, and outlined steps to be taken in the future,” said the minister. “In order to encourage export, we create a special institution, and the state will provide export guarantees to private companies. Export financing institutions will be set up, and the prospects for the near future are the case now.”

He also said that measures to increase revenues from tourism of Georgia were outlined.