Deputy Economy Minister highlights “record increase” of Georgia’s foreign trade turnover

Georgian Deputy Economy Minister Genadi Arveladze on Friday said Georgia’s foreign trade turnover in 2022 had reached the “record level”, with the turnover increased by 34 percent and amounting to $19.18 billion, including the increase of export by 32 percent constituting $5.59 billion.

In his report on Georgia’s economic diplomacy achievements and future plans submitted to the country’s Parliament, Arveladze highlighted the “right steps” taken by the Government over recent years in the direction of foreign trade policy to stimulate the export of Georgian products and diversify markets. 

He noted the development of trade regimes with other countries was “one of the important successes” in this direction, which was also reflected in statistical data. Arveladze highlighted the Free Trade Agreement with the European Union signed in 2014, as well as agreements with the European Free Trade Association, China, the Special Administrative Region of China - Hong Kong, the United Kingdom, and the United Arab Emirates.

"Georgian products can enter 1/3 of the world consumer market under the free trade regime, which represents a 2.3 billion consumer market", the Deputy Minister said, adding the share of Georgia's export dependence on the markets of the Commonwealth of Independent States countries decreased and local exports “have significantly increased” in the countries, with which Georgia had signed free trade agreements.