Georgia ranked third in the world in trade and economic freedom survey
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Georgia is steadily improving its place in terms of trade and economic freedom in the latest survey by the Heritage Foundation.
The 2016 Index of Economic Freedom survey ranked Georgia in third place among 178 countries after it gained 88.6 points.
Meanwhile, in last year’s report Georgia ranked 22nd place among 178 countries after it gained 73 points.
Hong Kong placed number one on the 2016 list. Among 178 countries Russia came in at 111rd place.
As for the other countries in the region the survey showed Armenia got 85 points and took 49th place, while Azerbaijan experienced 75 points and 93rd place and Turkey 84 points and 55th place.
"Because we have an open and liberal economy, we have no barriers and obstacles at the boarders. The production which is necessary for our population is imported without additional taxes to Georgia," said Georgia's Economy Minister Dimitry Kumsishvili.
"When we suffered from the [national currency Lari] devaluation there was a [risk] of inflation but because of open and transparent trade policy we avoided this risk. The international rating organisation also recognised [our effort] and Georgia will be the third country in the world in terms of trade freedom," he added.
The latest rankings of trade freedom around the world, included in the forthcoming 2016 Index of Economic Freedom, confirmed that citizens of countries that embrace free trade were better off than those in countries that do not.
Worldwide, the average trade freedom score improved slightly, from 75.3 to 75.6 (of a maximum score of 100). The improvement was due to a modest decline in average tariff rates among the countries measured.
The Heritage Foundation is a research and educational institution whose mission is to formulate and promote conservative public policies based on the principles of free enterprise, limited government, individual freedom and a strong national defence.
Results of the Open Budget Survey (OBS) released today by the International Budget Partnership ranked Georgia 16th in the world, based on an analysis of 102 nations’ budget transparency, participation and oversight.
Georgia has been ranked first of 13 countries in Eastern Europe and Central Asia region and 29th in the world in terms of open governance, says an international organisation working to advance the rule of law around the world.
Georgia is listed in 22nd place with 73, 0 points on the Index of Economic Freedom, a ranking which includes 178 countries worldwide, says the report by the Heritage Foundation.
Georgian officials are paying an official visit to Geneva to present a report on the Trade Policy Review of Georgia to the World Trade Ogranisation (WTO) experts.
World Trade Organisation (WTO) members are praising Georgia’s trade policy and the reforms implemented to liberalise international trade.
Georgia is now one of the top five most economically free countries in the world, according to a new report by the Fraser Institute. Georgia ranked 11th in the last report but this year placed 5th.
Georgia is getting fully involved in an export promotion program set to launch in summer 2017 that will boost the foreign awareness and global sales of locally made goods.
Georgia is steadily improving its standing in economic freedom ratings and has been included in the top five list of "mostly free” countries in the world, shows the latest survey by the Heritage Foundation.
Georgia is steadily improving its standing in doing business ratings, show the latest research from the European Chamber (EuCham). The EuCham, which ranks European countries based on their business environment ranked Georgia 20th amongst 46 countries after it moved up four places by gaining 68.6 in the scores.
Georgia is now one of the top 10 most economically free countries in the world, according to a new report by the Fraser Institute.
Georgia is steadily improving its international reputation by making governmental and financial dealings of the country more transparent. Results of the Open Budget Survey 2017 (OBS) released today by the International Budget Partnership ranked Georgia 5th in the world out of 82 scores, based on an analysis of 115 nations’ budget transparency, participation and oversight.
President of Georgia Giorgi Margvelashvili has hosted the Heritage Foundation Douglas and Sarah Allison Center for Foreign Policy Director Luke Coffey.