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Mikheil Dundua: CIS Hegemony is Over, EU Turned Key Market for Georgian Products

“CIS hegemony is over. EU has become a key market for Georgian products”, economic expert Mikheil Dundua wrote on his own Facebook page concerning foreign trade issues.

“International orientation structure of Georgian products exports (exports without reexports) has considerably improved over the past 5 years. In 2014 CIS space was a key direction for Georgian products and the country was exporting twice more products to CIS as compared to EU market.

Today we have a radically different reality!

According to the 2016 indicators, Georgia exported 514 billion USD products to EU market, up 14% as compared to CIS.

In 2016, as compared to 201r4, Georgia’s net exports to EU rose by 20%. The growth marked 83% as compared to 2012. And now it is the turn of China! I believe Georgia’s exports to China will double in 2 years.

Let’s take note that today China ranks second among Georgia’s partner countries in terms of Net Exports”, Mikheil Dundua wrote.