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Business / Trade in Georgia

  • Georgia sees decrease in imports

    GEORGIA, 2015/10/29 The volume of import in Georgia has decreased by 9 % over January-September 2015 compared to the same period of the completed year. The National Statistics Office of Georgia reported that the volume of the import in the country amounted to $5.66 billion. Oil and oil products, passenger cars are the major products imported in Georgia over the reported period. This inventory is replenishes with petroleum gases and gaseous hydrocarbons, grain electrical transformers and medicaments. Actual drop in price of imports was even larger – about 14 % – if excluding one-off import of donated C hepatitis medicines, which, according to the Healthcare Ministry, stood at 750 million lari (roughly $313.8 million).

  • Georgia, China deepen cooperation

    CHINA, 2015/10/18 Georgia and China expressed their willingness to deepen trade and economic cooperation during a conference between Georgian Agriculture Minister Otar Danelia and the chief of the national-owned shareholding company the Partnership Fund Davit Saganelidze with a delegation from China headed by Wang Lixia, the deputy governor of Shaan'xi province. Georgian and Chinese officials highlighted the importance of mutual cooperation in various fields like agriculture, tourism, science, modern technologies and construction. The current bilateral trade and economic relations, inclunding possible ways to enhance the relationship between the two nations in new directions, were on the schedule.

  • Azerbaijan, strategic partner of Georgia

    AZERBAIJAN, 2015/10/14 Azerbaijan is a strategic partner of Georgia and this policy remains unchanged, Georgian Prime Minister Irakli Garibashvili has told journalists, Azertag national news agency reported. The Prime Minister described as “nonsense” statements by some political rivals alleging that Georgia will review its energy trade with Azerbaijan with the prospect of purchasing natural gas from Russia. “There cannot be any talk about replacing Azerbaijani gas with natural gas from an extra country. Azerbaijan is our strategic partner. Reconsidering our mutual relations is not and cannot be a topic of discussion,” he said. “Further development and the strengthening of the strategic partnership with Azerbaijan is a priority for the Georgian government. Our policy toward Azerbaijan remains unchanged.” Azerbaijan is Georgia’s major gas supplier, Garibashvili noted.

  • Georgia not eyes restoring railway communication with Russia

    GEORGIA, 2015/08/08 The Georgian government did not mull the issue of restoring the railway communication between Georgia and Russia via Abkhazia, said Georgian Ambassador to Azerbaijan Teymuraz Sharashenidze. “Besides the economic component, this issue is as well politically motivated,” he told reporters on August 7. For Georgia, the issue of opening this railway is equivalent to the threat of territorial integrity, the diplomat said. The railway communication between Georgia and Russia was terminated in August 1992.

  • Car import from Georgia to Azerbaijan decreases

    AZERBAIJAN, 2015/07/27 Some 2,207 cars worth $41.4 million were exported from Georgia to Azerbaijan in January-June 2015 or 5.4 times less than in the same period of 2014, the Georgian National Statistics Service said in its foreign trade statement as of January-June 2015. The share of this category of goods in the total volume of Georgia’s export to Azerbaijan hit 31.66 % during the reporting period. Azerbaijan’s share in the total export of this category of goods from Georgia equaled 41.61 %. The car export from Georgia to Azerbaijan decreased by 3.6 times in terms of price and 9,750 units in terms of quantity compared to the same period of 2014.

  • The presidents of Georgia and Turkmenistan have expressed interest...

    GEORGIA, 2015/07/09 The presidents of Georgia and Turkmenistan have expressed interest in the development of cooperation in the fields of transit, transportation, and trade, with the participation of Azerbaijan. This was expressed in a joint statement adopted by Georgian President Giorgi Margvelashvili and his Turkmen counterpart Gurbanguly Berdymukhamedov on July 2 during the Turkmen president's national visit to Tbilisi. "The sides confirmed their interest and support to the development of the agreement, initiated by Afghanistan on cooperation in the transit, transport and trade fields between Afghanistan, Turkmenistan, Azerbaijan, Georgia and Turkey. The priority direction of cooperation between the nations will be joint implementation of major regional and inter-regional transport and energy projects," the document says.

  • Estonia, Georgia deepen bilateral cooperation

    GEORGIA, 2015/06/06 Estonian President Toomas Hendrik Ilves pledged to support Georgia's efforts towards European and Euro-Atlantic integration. This statement was made at a conference between Georgian Prime Minister Irakli Garibashvili and the Estonian president in Tbilisi on June 3. Deepening of bilateral economic cooperation, Georgia’s EU integration and relations with NATO were the major issues on the schedule of the conference. Estonia actively assists Georgia in these issues.

  • Georgia’s Prime Minister, Irakli Garibashvili hopes Georgia will get it in 2016 visa free

    GEORGIA, 2015/05/24 A political decision to grant Georgia visa-free regime in the Schengen area is by presently in place. Georgia’s Prime Minister, Irakli Garibashvili hopes Georgia will get it in 2016 next technical procedures are completed before late this year. “Everyone acknowledges that Georgia has made significant evolution. In just six months we have made a huge evolution and took a great leap forward. Taking in view this evolution, everyone agrees that Georgia deserves to have visa-free travel rules with the EU,” he told journalists upon his arrival at the Eastern Partnership summit in Riga on May 21.

  • Georgia's import and export record drop

    GEORGIA, 2015/04/26 A slight downward trend has been observed in the price of Georgia’s exports and imports over the initial quarter of the year in comparison to 2014, according to statistical data. Geostat, national statistic agency, reported that in January, February and March, Georgia’s External Merchandise Trade, excluding non-organized trade, stood at $2.279 billion. This was about 10 % below the same figures reported in 2014. Geostat preliminary data revealed that the price of exports decreased by 28 % year-on-year basis, and reached $503 million, while imports dropped by 3 % and amounted to $1.776 billion.

  • Georgia ups its exports to EU

    GEORGIA, 2015/04/24 Georgia has developed its trading ties with European markets, delivering additional Georgian products to consumers in Europe and possibly further abroad. Preliminary data from the country’s National Statistics Office, Geostat, revealed that Georgia enjoyed a 21 % increase in its exports to Europe in the initial three months of this year, while imports decreased by five %. This revealed that Georgia boosted its export power and at the same time reduced its imports relying additional on locally-produced goods. Furthermore, the data suggested that Georgia is presently becoming less dependent on markets it formerly relied on, particularly Commonwealth of Independent States markets.
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