Ongoing war in Ukraine “catastrophic” for region, showing need of economic diversification - Georgian PM

The ongoing war in Ukraine has been “catastrophic” for the entire [Black Sea] region and also affecting Georgia. The war has indicated the need for countries to diversify their economies, Georgian Prime Minister Irakli Garibashvili said on Thursday in his address at a panel discussion Eurasia's Middle Corridor: From Pathway to Highway within the framework of the World Economic Forum in Davos.

Garibashvili said Georgia had “excellent” relations with “strategic partner” countries - Azerbaijan, Kazakhstan and Turkey, and noted the attention to the Middle Corridor [the Trans-Caspian International Transport Route starting from Southeast Asia and China and running through Kazakhstan, the Caspian sea, Azerbaijan, Georgia and further to European countries] “intensified and increased” after the war.

The Head of the Government highlighted the investments in infrastructure projects, including the construction of highways, with the $2.3 billion allocated for the project, which would be completed by the end of 2024, the Government Administration said.