News

Georgia Exported 21 537 Bottles to 8 States in Q1 2008
In Q1 2008, Georgian Chacha (vodka made of grape husks) was exported to 8 states. The country has exported 21 537 0.5-litre bottles in the first six months of 2008.

INVEST IN GEORGIA Business Forum Held in Frankfurt
Business forum “Invest in Georgia” was held in Frankfurt, Germany on June 17 organized by the Georgian National Investment Agency (GNIA) and the Tbilisi Municipality. The event was dedicated to a discussion of investment opportunities in Georgia, and an economic and investment climate overview. The forum brought together members of Georgian and German governmental bodies, as well as representatives of the Georgian private sector who presented investment opportunities and met with representatives of leading German business companies in order to establish business ties.

Georgian Wine Market Continues Growth
The export market of the Georgian wine-making company Tbilvino has expanded to another European country – Estonia. The company plans to launch the sale of its products in Estonia in August 2008. The related agreement has already been signed between Tbilvino and an import company, followed by the first order from the country.

Georgia Secures Place Among World’s Top Reformers
For the third year in a row Georgia has been named as one of the world’s top reformer countries by the annual estimates of the World Bank and the International Finance Corporation.

In 2007 Investments Dramatically Increased in Adjara Region
The volume of investments made in Adjara region (Western Georgia) in 2007 grew by an impressive 43 percent as compared to the previous year and totaled USD 200 million, including USD 133 million in foreign investments. In 2008 investments in the region are expected to reach USD 255 million with USD 170 million coming from foreign investors.

GNIA Held Business Forums in the Regions of Georgia
In May 2008 the Georgian National Investment Agency (GNIA) held business forums in several regions of Georgia – Kakheti, Imereti and Guria.

Foreign Trade Statistics
According to January- March 2008 data, Georgia’s foreign trade turnover accounts for 1740.9 million USD, which is 37.1% more than the same data from the previous year. Out of this sum, exports make 330.6 million USD, whereas imports make 1410.3 million USD.

Israeli Business Forum Held in Tbilisi
On May 12, a Georgian-Israeli business forum entitled “We Build Together” was held in Tbilisi to celebrate Israel’s 60th anniversary. A large delegation of Israeli businessmen visited the Georgian capital for this occasion. 60 Israeli-led investment projects currently in progress in Georgia were presented at the conference.

First International Logistics Conference Held in Tbilisi
Tbilisi’s first international logistics conference was held on May 8th at the Sheraton Metechi Palace Hotel. The keynote presentation of the conference was “Logistics City Tbilisi”, which was attended by numerous guests from economic research institutes, foreign and Georgian business circles and international transport companies. The event was held with the support of the Ministry of Economic Development of Georgia, the Tbilisi Aircraft Manufacturing Company, Georgian National Investment Agency and Trans Care.

Lithuanian Business Delegation visits Georgia
On May 6th and 7th, 2008, a delegation of Lithuanian businessmen, headed by Vice Minister of Economy of the Republic of Lithuania, paid a two-day visit to Georgia. The visit marks the intensification of economic and business links between Georgia and Lithuania, and shows the growing interest of Lithuanian businesses in the Georgian economy. Over the duration of the visit, the guests had an opportunity to meet the Minister of Economic Development of Georgia, as well as Georgian businessmen to discuss possible cooperation.

Free Industrial Zone Project Opening in Poti
On April 15, 2008, a ceremony was held in honor of the New Poti Port and Free Industrial Zone presentation. The President of Georgia Mikheil Saakashvili, the Prime-Minister of Georgia Lado Gurgenidze, the Minister of Economic Development of Georgia, Ekaterine Sharashide and the First Lady, Sandra Roelofs attended the ceremony.

Georgia becomes attractive for the tourists
According to The Travel and Tourism Competiveness Index published by the World Economic Forum, Georgia took 72nd place among 130 countries (by 3, 83 rate).

The IMF Mission visits Georgia
Between February 29 - March 7 2008, the mission of the International Monetary Fund (IMF) visited Georgia. The mission evaluated the economic situation in Georgia and the prospects for 2008. The members of the mission had meetings with Georgian authorities as well as representatives of the private sector.

Lithuanian Airlines are set to fly to Georgia
Starting May 5, 2008 “Lithuanian Airways” will enter the Georgian aviation market. The airline will operate Tbilisi-Vilnius-Tbilisi flights.

Georgia’s Foreign Trade Statistics – January 2008
Georgia’s foreign trade turnover in January 2008 totalled 504 million USD, 26.6% more than during the same timeframe in the previous year. Of the 504 million USD, exports amounted to 97.2 million USD (up by 39.9%) and imports made 406.8 million USD (up by 23.9%). Georgia’s negative trade balance is 309.6 million USD.

“KazTransGas – Tbilisi” plans new rehabilitation works
In next 4 years “KazTransGas – Tbilisi” plans the rehabilitation works on network providing gas to Tbilisi. The cost of the project will be USD 100 million. From 2006 “KazTransGas” is the owner of “TbilGas” JSC assets and during this period the company already invested USD 45.5 million in Georgia.

Business Council of France – Georgia
The French Business Council has been launched in Georgia to promote the open market system and foster French-Georgian business relations in order to contribute substantially to the expansion, modernization and enhancement of Georgia’s international trade and investment.

Estonian business delegation visits Georgia
On February 4-6, 2008 the Prime Minister of Estonia Andrus Ansip and the delegation of Estonian businessmen paid an official visit to Georgia. His Excellency was hosted by the Prime Minister of Georgia Vladimer Gurgenidze whereas the delegation of Estonian businessmen was hosted by the Georgian National Investment Agency. The official meetings included meetings with the President of Georgia and the Speaker of the Parliament of Georgia.

GPI Holding is the first to introduce online sale of insurance products in Georgia
GPI Holding – Vienna Insurance Group has introduced a new sales service that enables customers to purchase insurance products via the internet.

The Ukrainian company “Plastnac” will package Georgian citruses
Plastics producing factory has opened in Batumi, Georgia. The owner of the factory is the Ukrainian “Plastnac” JSC. The value of the project is USD 20 million.

SOCAR will Invest USD 35 million in fuel Stations Building
From January 2009 SOCAR, the state oil company of Azerbaijan, will start constructing the network of fuel stations throughout Georgia. SOCAR has already purchased 15 fuel stations from “Lukoil” and is rebranding them.

Georgia Plans Economic Shake-Up
VIENNA -- Newly re-elected Georgian President Mikheil Saakashvili wants to slash taxes, speed privatization, ease foreign-investment rules and tap international capital markets as part of a radical plan to shake up the economy of the Black Sea country, his prime minister said in an interview.

“Le-Caucas” brandy from Teliani Valley
The wine company Teliani Valley for the current year plans to increase the sales of brandy. In 2006-2007 the company sold 50 000 bottles of brandy “Le-Caucas”. In 2008 they plan to sell 100 000 bottles of this brand.

“Shumi” presents a new brand
Soon the wine company “Shumi” will present new brand “Vigu”. Now “Shuni” is producing 54 kinds of wine and Kakhetian vodka “Chacha”. In 2007 the company sold more than 100 000 bottles. 80% of “Shumi” products is exported, 20% is sold on the local market. “Shumi” sells its products in Kazakhstan, Ukraine, Poland, Switzerland, Germany, USA, UK, Taiwan, Japan, Spain and Canary Islands.

Tourism Exhibition
The Department of Tourism and Resorts of Georgia will participate in the international tourism exhibition “Vakantie-Beurs” on 8-13 February, 2008.

LTD “Mobitel” wins the tender
LTD “Mobitel” is the winner in the tender for the license of radio power spectrum usage for mobile communications.

Mikheil Saakashvili wins the election
Mikheil Saakashvili has hailed his election win. According to preliminary results, Saakashvili has narrowly won an absolute majority with more than 52 percent of the vote. His nearest rival, Levan Gachechiladze, candidate of a nine-party opposition coalition, has received a credible 25-27 percent of the vote with the other five candidates limping behind in single digits.

Ukraine – one of the largest trade partners of Georgia
According the data of 2007 (eleven months period) Ukraine is the number third country between the largest trade partners of Georgia. Trade turnover between Georgia and Ukraine in 2007 (January-November) constituted 549.6 million USD. The figure is increased by 62.3% compared with the last year.

Export and import increase in Georgia in 2007 January-October
In January-October 2007, the volume of export in comparison with the same period of 2006 increased in Georgia by 29, 9% and made 1 billion 4,89million dollars. Ferroalloys, scrap of ferrous metals as well as copper ore and concentrates are the basic items in the structure of export of Georgia for the reporting period.

Renewed law to regulate Tbilisi-Dubai flights
Air traffic between Georgia and United Arab Emirates will now be regulated by the renewd regulations. The negotiations regarding this issue were held in Tbilisi