Daily Archives: September 29, 2014

Gas Deposit with Capacity of 42 Bln Cubic Meters? – American “Frontera” Hides Information from Georgian Gov’t

The International Oil and Gas Company “Frontera Resources Georgia Corporation” doesn’t reveal information about the gas reserves. In June of the current year “Frontera” confirmed that gas deposit with capacity of  42 bln cubic meters was discovered in Georgia, in particular in Sagarejo district  that caused a stir in expert and public circles, …

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Georgian Business not Enjoys Benefits Provided by Association Agreement with the EU

Georgian business does not enjoy the benefitsprovided by the Association Agreement with the European Union. The enactment of the Deep and Comprehensive Free Trade Area Agreement has notaffected export figures to the countries of the EU. Despite the fact that from September 1 Georgia can export its products to the European Union’s market of 500 million consumers without additional charges, an increase has not been observed compared with the same period …

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Gov’t not to Control Non-core Assets of Banks

The Georgian government does not intend to restrict the right of banks to own non-core assets – and this is despite the fact that banks have long owned companies in sectors such as construction, insurance, tourism, leasing, sports, wine, and even fitness. Out of  21 banks registered  in Georgia, non-core assets are …

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By the End of the Year Products Price to Hike in Georgia

“Resonance” daily writes that prices of agricultural products are growing  in Georgia. Experts believe that with the end of the agricultural season, food prices will continue to grow. The government has no mechanisms of control over the situation, and  according to the Statistical Service, in August, annual inflation was 3.4%. The government constantly …

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New Regulations in Azerbaijan Reduced Export of Cars from Georgia by 50%

New regulations imposed by the government of Azerbaijan reduced re-export of cars from Georgiaby half and many companies had to  left the market. According to Sakstat preliminary data, in January-August 2014, 13 790 vehicles were sold inAzerbaijan, that is 50% less than in the same period of 2013. In monetary terms, exports amounted to USD 182 million, which is 22.8% less than in the …

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