Georgian PM, Economic Council members discuss positive trends in country's economy
The ongoing works within the modernisation project of Georgian Railways and the process of grape harvest were also in the focus of the meeting. Photo: Government Administration
Tweet 
Share
Positive economic trends in Georgia were discussed on Wednesday in a meeting of the Government’s Economic Council led by Prime Minister Irakli Garibashvili.
The meeting reviewed a “record” increase of foreign investments in the country, with the volume of direct foreign investments made in Georgia in the second quarter of 2023 reaching $505.7 million, which is 29.9 percent higher than the adjusted data of the Q2 of 2022, the Government Administration said.
The members of the Council also discussed the growth trend of foreign trade indicators, noting that the trade turnover in this August amounted to $1,766.1 million, increasing by 16.8 percent and reaching $14,001.1 million between the period of January and August.
It was also noted that the exports increased by 14.3 percent and reached $4,075.5 million between January and August, while the imports increased by 17,8 percent, reaching $9,925.7 million in the same period.
The current and planned large investment projects in transport and logistics, including the Anaklia port development, were also discussed at the meeting of the Economic Council.
The ongoing works within the modernisation project of Georgian Railways and the process of grape harvest were also in the focus of the meeting.
Bilateral relations between Georgia and the Netherlands were discussed on Wednesday in a meeting between the Georgian Finance Minister Lasha Khutsishvili and Meline Arakelian, the new Ambassador of the Netherlands to Georgia.
Georgian Deputy Economy Minister Romeo Mikautadze on Wednesday featured in the 32nd Session of the Committee on Sustainable Energy, organised by the United Nations Economic Commission for Europe, and spoke about the importance of establishing a “sustainable energy system” on the continent.
About 1.29 million Georgian resident visitors aged 15 and older made 1.6 million trips within the country in the second quarter of 2023, the National Statistics Office of Georgia said on Wednesday.
Genadi Arveladze, the Deputy Economy Minister of Georgia, on Wednesday told the Parliament's European Integration Committee that 60 percent of the country’s commitments made under the 2014 Deep and Comprehensive Free Trade Area deal with the European Union in terms of alignment of the domestic legislation with the bloc’s framework had been fulfilled.
Vakhtang Tsintsadze, the Georgian Deputy Economy Minister, on Thursday said his office expected the volume of export and trade turnover to hit “new record levels” this year, repeating the results of 2022.