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Tag Archives: Turkey

Turkey’s Largest Airport to be Opened in October

Turkish president Recep Tayyip Erdogan is opening what he claims will eventually become the world’s largest airport on the 95th anniversary of Turkey’s establishment as a republic. Tens of thousands of workers have been scrambling to finish the airport to meet Mr Erdogan’s 29 October deadline. However, its launch on Monday is symbolic with only limited flights beginning days later …

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Turkey Sells $2bn of International Bonds

Turkey has returned to the international borrowing market with the sale of a $2bn dollar-denominated bond, just days after Ankara sought to end a bitter row with Washington following the release of a detained US pastor. The country, which has been looking to shore up its external funding position amid …

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Expected Changes for Georgian Business if Turkey Starts Trading in Lira

Turkey ranks third among Georgia’s top exports markets, but it is leader in imports markets. According to Geostat, national statistics service of Georgia, Georgia’s exports in January-July made up 172 609.8 thousand USD, while imports from Turkey in the reporting period amounted to 829 158.4 thousand USD. This statistics proves …

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Turkey is the Most Popular Destination For Georgian Travelers

According to the survey conducted in Tbilisi in June, 2018, every third resident of Tbilisi (33%) has travelled abroad at least once. 27% of Tbilisi residents travelled abroad for personal reasons and 11% for business trips. The most popular destinations are Turkey (47%), Russia (36%), Germany (34%), Azerbaijan (23%), and …

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Developments in Turkey and the Impact on Georgia’s Economy 

Recent developments in Turkey, an important economic partner of Georgia, raise a number of questions about the potential for spillovers. Georgia’s total exposure to Turkey via currency inflows is 4-5% of GDP – these account for approximately 8% of all currency inflows into Georgia. The share of total imports from …

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Turkish Investments Halved in Ajara

Turkey has invested 135 million dollars in 2016 in the region of Adjara; Last year, this figure fell to 52.5 million dollars. Eka Bakhtadze, Head of Economic Development Department of Ministry of Finances and Economics  said that Turkish and in general, the reduction of investments is related to HPPs construction …

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Turkey’s QNB Finans Leasing Receives EBRD Loan of €25 Million

The EBRD is providing a loan of €25 million to QNB Finans Finansal Kiralama A.S., a leasing subsidiary of the Turkish lender QNB Finansbank, to broaden access to finance for the country’s small and medium-sized enterprises (SMEs). The EBRD loan is extended under the third phase of the Turkey Sustainable Energy …

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Turkey’s Erdogan Focuses on New Cabinet Structure

Recep Tayyip Erdogan

President Recep Tayyip Erdogan and his top aides have begun working on drafting the new government structure and the next cabinet in line with the new executive-presidential system as it will enter into force after the president will take his oath on July 8. The president chaired a meeting in …

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Turkey’s Erdogan Wins Re-election As President

Recep Tayyip Erdogan

Turkey’s long-standing leader Recep Tayyip Erdogan has won a new five-year term after securing outright victory in the first round of a presidential poll. Election authority chief Sadi Guven said the president “received the absolute majority of all valid votes”. State media reports put Mr Erdogan on 53% with 99% …

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Travel Time from Turkey to Azerbaijan Will Half

The travel time from the Red Bridge checkpoint at the Georgian-Azerbaijani border to the Sarpi checkpoint at the Georgian-Turkish border will be reduced to four hours, said the Head of the Road Department at the Ministry of Regional Development and Infrastructure, Irakli Karseladze. Large-scale infrastructure projects have been planned for …

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Georgia’s Electricity Exports to Turkey in May Rose by 61.4%

Georgia has considerably increased electricity exports to Turkey. Electricity exports totalled 63 715 thousand kw/h as of May 9, 2018. Objective of the government is to increase these indicators and transform Georgia into an energy hub, Minister of Economy Dimitri Kumsishvili noted. “We enhance cooperation with Turkey to more integrate …

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Development of Fiber Optic Cable of Europe-Asia is Considered via Georgia

Development of Fiber Optic Cable of Europe-Asia is Considered via Georgia

Georgia and Turkey will discuss development of Europe-Asia fiber-optic cable highways. Dimitri Kumsishvili raised the initiative with the Turkish counterpart. “Development of fiber-optic cable networks of Europe and Asia via Georgia and Turkey is one of the priority issues in our countries’ agenda”, – Ahmet Arslan, First Vice Prime Minister …

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