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Economy

Takehiko Nakao President of Asian Development Bank Visits Georgia

President of Asian Development Bank, Mr.Takehiko Nakao visits Georgian capital Tbilisi. Mr.Nakao met with ex minister of finance of Georgia Mamuka Bakhtadze yesterday and the president of National Bank of Georgia, where parties discussed current and upcoming projects, evaluated success of cooperation and talked about ADB’s importance on Georgian economy. …

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Unclear Details of Anaklia Port’s Infrastructure

SSA Marine: Anaklia Will be the Most Modern Deep Water Sea Port in the Black Sea Basin

When will the state fulfill its obligations and when it starts from the Anaklia port access infrastructure is still unclear. However, there is no project yet. For the sixth month, the agency has been trying to find a way through a tender that will project the road and rail line …

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Georgia’s Visitor Spending Increased This Year

Expenditure has increased for visitors- shows Geostat research. According to year’s first quarter data, visitors’ expenses exceeded 120 million GEL, when it was 112 million GEL in the corresponding period last year. During the reporting period, average expenditure has been increased by 7.5 GEL and amounts 122,3 GEL. The biggest …

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Georgia Exports 1 242 744 liters of Mineral and Spring Waters to Israel

In 2017 Georgia-Israel trade turnover made up 20.2 million USD, up 5 million USD compared to the 2016 indicator. According to Geostat, national statistics service of Georgia, Georgia-Israel turnover in January-April constituted 14.1 million USD. As to exports and imports, Georgia has negative trade balance with Israel. Namely, in 2017 …

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New Airline Entered Tbilisi International Airport

On June 13, new Saudi Arabian low cost air company Flynas has performed inaugural flight on the route Riyadh Tbilisi. Today airline will perform another first flight from Jeddah. For summer season flights from Riyadh and Jeddah will be performed three time a week on Wednesdays, Fridays and Sundays by …

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Foreign Trade Turnover Rises by 24.5%

In January-May 2018 Georgia’s foreign trade turnover (excluding undeclared trade) made up 4 894.8 million USD, up 24.5% compared to the same period of 2017. According to Geostat, national statistics service of Georgia, exports constituted 1 284.7 million USD, up 28% and imports constituted 3 610.1 million USD, up 23.3%. …

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ACCI and PGIPH Sign Memorandum of Cooperation

Deputy Chairman of “The Ajara Chamber of Commerce and Industry (ACCI)”, Tamaz Turmanidze, and the President of “Polish-Georgian Chamber of Industry and Commerce”, Marcin Rutowicz, have signed a memorandum on mutual understanding and cooperation on June 12. Cooperation of the parties within the memorandum is based on principles of mutual …

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Georgian Railway and Deutsche Bahn Officially Become Partners

Georgian Railway and Deutsche Bahn entered a new stage of cooperation. An agreement was signed by David Peradze, CEO of Georgian Railway and Alexander Doll, Member of the Board of Management for Freight Transport and Logistics at Deutsche Bahn, in Berlin which lays the foundation for future joint projects in …

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Myway Airlines Launched Its First Flights on June 13

On June 13 new Georgian airline Myway Airlines launched regular Batumi-Kharkiv-Barumi flights. On June 12 the airline performed the first regular flight from Tbilisi to Kharkiv. The airline management hopes that frights from Tbilisi and Batumi to Kharkiv will become in-demand directions and in the future the airline will perform …

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Driving Time from Tbilisi to Sarpi to Decline to 4-4.5 Hours

Driving Time from Tbilisi to Sarpi will be reduced to 4-4.5ours, Road Department chairman Irakli Karseladze said. After completion of Rikoti Pass construction-reconstruction works the driving velocity will increase to 100% from 80%. The Rikoti project will be implemented in 2018-2012. Rikoti Pass designing process has been finished. Consequently, negotiations …

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EU Supports Development of Agricultural Extension in Georgia

Various agricultural issues were discussed at a meeting recently organised through the EU-funded European Neighbourhood Programme for Agriculture and Rural Development (ENPARD). Among the topics discussed was the creation of an online library to make modern agricultural advice handbooks and guidebooks available for Georgian farmers and extension specialists. The event …

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Free Trade Area Implementation Opportunities in Georgia

The first meeting of the Deep and Comprehensive Free Trade Area (DCFTA) Central Advisory Council is to take place in the Georgian capital of Tbilisi on 12 June. Its objective is to hear from representatives of small and medium-sized enterprises (SMEs) in the country’s regions and local experts about their …

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