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Monthly Archives: June 2014

Whether or not We are Protected from Substandard Drugs?

Is there any danger of importing substandard medicines in Georgia, and who controls the pharmaceutical market? As it turns out, Georgia has the sole authority responsible for quality control of drugs – the State Medicines Control Agency. Commersant.ge was told at the  Agency that everything was  in order in the pharmaceutical market …

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Ruling Party not Waits for Russian Aggression due to the Association Agreement with the EU

The parliamentary majority doesn’t expect any kind of aggression from  Russia after the signing the Association Agreement with the European Union. As we reported, presidential spokesman DmitryPeskov said that  the signing of the Association Agreements with the EU was  the sovereign right ofUkraine, Georgia and Moldova , but Russia would take protective measures in the case of the negative impact of this document  on  the Russian market. Zakaria Kutsnashvili, one of …

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Experts Doubt Effectiveness of Competition Agency

The experts interviewed by “Commersant” doubt the effectiveness of the Competition Agency. An expertLevan Kalandadze believes that  the creation of theCompetition Agency and adoption of the law was one of the key challenges for  Georgia and both political and economic circles have always beenfocused on this issue. He says that the solution to the problem with the competition and the launching ofreal antitrust institutions was one of the key challenges in the market. In his words,  the law was adopted, the Competition …

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World Sports Brands not able to Increase Sales in the Market

Despite a wide range of products, sporting goods market cannot grow in Georgia. Representatives of sports brands state that  in recent years the number of customers  has not increased in their stores. GDL sport company that includes Adidas, Nike and Reebok stores says that this year sales haveslightly decreased, although discount promotions aregoing on in the network and user growth is expected in July. The network management explains this fact by the country’s current economic situation and says that …

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EBRD: GEORGIAN BANKS EMERGE AS REGIONAL LEADERS IN TRADE SECTOR CREDITING

TBC Bank has hosted a one-day conference as part of the trade support program of the European Bank for Reconstruction and Development (EBRD). The conference made focus on trade sector crediting on international and regional markets. The meeting also discussed the bank sector challenges with leading specialists, regulators and lawyers. …

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CHINA PLANS INVESTMENT BANK TO BREAK WORLD BANK DOMINANCE

China is moving forward with a plan to create its own version of the World Bank, which will rival institutions that are under the sway of the US and the West. The bank will start with $100 billion in capital. The Asian Infrastructure Investment Bank (AIIB) will extend China’s financial …

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UK BANK TO INVEST £1BN OF GREEN ENERGY IN THE OCEAN BLUE

The UK’s Green Investment Bank (GIB) will raise £1bn to invest in domestic offshore wind farms, tapping into the billion dollar industry of generating renewable energy from ocean winds. GIB has put £1.3billion into 29 green infrastructure projects since it was started 18 months ago, and is transitioning from simply …

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