Georgia initiates new mechanism to boost exports

Increasing the export opportunities of Georgia-made products and supporting exporter companies is the main goal of a new initiative of Georgia’s economic team.

The so called Triangle Export one sec a new tool that the Government of Georgia is going to use for boosting exports.

Georgia’s Economy Minister Giorgi Gakharia talked about this new initiative at the Conference on Economic Diplomacy, which was held today within the Ambassadorial 2017 – an annual gathering of the heads of Georgian Diplomatic Missions abroad.

As the Minister explained the so called Triangle Export will include the coordinated work of three agencies - Georgia’s Ministry of Economy, Georgia’s Ministry of Foreign Affairs and Export Credit Agency.

Georgia’s Economy Minister Giorgi Gakharia talked about this new initiative at the Conference on Economic Diplomacy. Photo by Georgia's Ministry of Economy. 

These three agencies will have their own roles and functions. For example, while the Ministry of Economy will be responsible for providing technical assistance and analytical information to the exporter companies, the Ministry of Foreign Affairs will take care of collecting the information about specific countries and offer the political support. Meanwhile, the Export Credit Agency will help the companies to have access to finances.

As of today the Ministry of Economy has already identified 1,044 exporter companies, which are divided into six different portfolios, which are created based on the export products.

These portfolios will have their managers who will have access to complete information about the products which are united under one portfolio. The information will also include analysis of the challenges that the exporter companies face.

Gakharia stated all these initiatives were made in order to further boost export potential of Georgian products.