Georgian and South Korean officials held the final round of talks for an economic partnership agreement in Tbilisi last week, resulting in agreement on “key areas” including trade in goods and services, intellectual property rights and customs. Photo: Ministry of Economy Georgian and South Korean officials held the final round of talks for an economic … Read more
In the first seven months of 2024, Georgia imported 7.5 times more vegetables than it exported, with $43.817 million in imports compared to $5.766 million in exports, according to the National Statistics Office of Georgia. Among the vegetables Georgia exported, the top earners were tomatoes ($1.061 million), potatoes ($919,500), cabbage ($357,700), onions ($262,000), and lettuce($40,500). … Read more
Galt & Taggart noted in this week’s review that 5.2% of Georgia’s exports go to the European Union and 69.5% are sent to CIS countries. “5.2% of exports went to the European Union (-29.9% y/y), 69.5% to the CIS (+37.2% y/y) and 25.3% to other countries (+33.9% y/y),” they noted. “Further, imports into Georgia rose … Read more
The list of top trading partners of Georgia between the first seven months of this year was topped by Turkey with $1.80 billion, Russia with $1.42 billion and the United States with $1.07 billion, the National Statistics office said on Monday. The list of exports was headed by Kyrgyzstan ($587.5mln), Kazakhstan ($446.5mln) and Russia ($407.2mln), … Read more
The Ministry of Economy stated, that in July 2024, trade turnover rose by 13.6% year-on-year. As for January-July 2024, it increased by 1.6%. “In July 2024, the trade turnover was USD 2,102.5 million, which makes an increase of 13.6% year-on-year, and like exports, represents a record volume. In January-July 2024, trade turnover increased by 1.6% … Read more
The body added passenger traffic, including passport and customs control, through the border checkpoint with Russia had been restored in both directions. The Revenue Service of the Ministry of Finance of Georgia on Tuesday announced customs control procedures at the Kazbegi checkpoint on Georgia’s northern border with Russia had been “fully restored” after technical works. … Read more
The Georgian officials also visited the Animal and Plant Health Inspection Service, an agency of the US Department of Agriculture, where they were introduced to specifics of controls over imports of risk-factor food. Photo: National Food Agency of Georgia Kakha Kakabadze, the Deputy Minister of Environmental Protection and Agriculture of Georgia, and Giorgi Iakobashvili, the … Read more
GEOSTAT stated, that in the first half of 2024, Georgia’s external merchandise trade (excluding non-declared trade) totaled USD 10.32 million, marking a 1.8% decrease compared to the same period in the previous year. Exports amounted to USD 2.85 million, down by 6.7%, while imports slightly increased by 0.2% to USD 7.47 million. Source Link
Overall, business and investment conditions are sound, and Georgia favorably compares to regional peers. However, there is a continued lack of confidence in the judicial sector’s ability to adjudicate commercial cases independently or in a timely, competent manner, with some business dispute cases languishing in the court system for years, – reads the US State … Read more
The Ministry of Economy of Georgia on Tuesday said 500 tonnes of blueberries would be exported to the European Union and the United Kingdom as part of the Lead Generation Programme aimed at connecting domestic producers with foreign buyers and expanding international market opportunities. Photo: Ministry of Agriculture The Ministry of Economy of Georgia on … Read more