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Daily Archives: December 24, 2015

Association Agreement Has Been Finally Ratified by all EU Countries

association agreement

The association agreement between Georgia and the European Union was finally ratified by all EU countries, according to chairman of Georgian parliament David Usupashvili. Belgium ratified the Association Agreement between Georgia and the European Union, which was prerequisite to finalize the deal, Davit Usupashvili said. The European Union and Tbilisi signed the …

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Belgium Becomes the 28th State to Ratify Georgia’s EU Association Agreement

Belgium

Belgium ratified the Association Agreement between Georgia and the European Union, which was prerequisite to finalize the deal, Davit Usupashvili, a speaker at the Georgian parliament, said Thursday. The European Union and Tbilisi signed the EU-Georgia Association Agreement on June 27, 2014. To come into effect this agreement should be signed by all 28 EU states. …

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Georgia Plans to Attract more Tourists from Azerbaijan

Georgia Plans to Attract more Tourists from Azerbaijan

Azerbaijanis spend about $200 per trip. In 2016, the Georgian government will launch a program to attract tourists from Azerbaijan. According to Oxu.Az, the due statement came from the press-center of Georgia Gaming Congress. Georgia’s legal casinos and reasonable prices attract the citizens of neighboring countries. In addition, the Georgians rent out …

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Georgian Wheat Importers Expect Stable Prices

Georgian Wheat Importers Expect Stable Prices

The Russian government lifted  an export duties on grains and the Georgian importers expect stable prices for flour and bread. CBW was told by Levan Silagava, the head of the Association of Bakery Producers. According to him, this is a very positive decision not only for Georgia but for the global wheat …

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Do Bitcoins Threaten Georgia’s Economy?

Do Bitcoins Threaten Georgia’s Economy?

The second Bitcoin’s processing datacenter has opened in Georgia. While the virtual money are new even for developed countries, more unusual it is for Georgia where local economists are more skeptical toward this cryptocurrency. So, they believe that electronic money is not controlled by any central bank  that gives a …

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A New Coffee Plant to Open in Georgia

A New Coffee Plant to Open in Georgia

The Business Group, an exclusive importer of the Italian coffee Lavazza, has completed the construction of the plant. Amiran Gogitidze, Financial Director  in the New Coffee Company says in his interview with CBW that the plant will be put into operation next year. In his words, at this stage the equipment …

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Azerbaijan to More Seriously Fight Bribery, Corruption and Monopolism

Azerbaijan to More Seriously Fight Bribery, Corruption and Monopolism

Azerbaijan will even more seriously fight bribery, corruption, monopolism and illegal activity, President of Azerbaijan Ilham Aliyev said. He made the remarks during the ceremony of awarding athletes and sports experts at the National Olympics Committee. “From now on, we should even more seriously pursue the policy of economic liberalization,” …

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ISET set New Year Supra Index

Supra Index

ISET has published New Year Supra Index linked to New Year’s approaching. The Index shows the cost (in GEL) of a standard supra meal for a family of 5-6 person. Included in our calculations are such traditional dishes as khachapuri, mtsvadi, satsivi, trout, fried chicken, Olivier salad, pkhali, cucumber & …

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Revenues Increased by 38% to the Banking Sector

Banking sector’s revenues of 11 months exceed 3,1 billion GEL, while 1,8 billion (58%) is gained from loans. Banks’ revenues are grown by 38% year-over-year (01.12.14 – 2,288), which exceeds by 4,9% (more 8 times) comparing to the previous year’s growth year-over-year. The expenditures total to 2,6 billion GEL through …

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Georgia Ships Breeder-1 HEU to Russia

The International Atomic Energy Agency (IAEA) has announced “another achievement in global nuclear non-proliferation efforts”, with the shipment of high enriched uranium (HEU) from Georgia yesterday. The 1.83 kg of HEU was removed from the Breeder-1 Neutron Source at Tbilisi State University in Georgia to a secure storage facility in …

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