Deputy Economy Minister highlights “record increase” of Georgia’s foreign trade turnover
"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. Photo via Economy Ministry
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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.
Professionals from the Central Asia Regional Economic Cooperation gathered in Georgia for the meeting of their Tourism Working Group and a capacity-building workshop between Monday and Tuesday, with the host country involved in an initiative on a free trade deal between member states.
Georgian external trade turnover amounted to $19.04 billion in 2022, posting a 32.8 percent increase year-on-year, the Georgian National Statistics Office revealed on Friday.
Georgian Prime Minister Irakli Garibashvili on Wednesday told a panel discussion at the Qatar Economic Forum in Doha his country had a “very good” relations with China, citing the free trade agreement between the countries as a sign of “increasing” ties.
Georgia and the United Arab Emirates (UAE) signed an agreement on starting free trade negotiation during Dubai Expo 2020 earlier today, the Georgian Economy Ministry reports.
Georgian Deputy Economy Minister Genadi Arveladze on Tuesday highlighted Georgia’s “liberal trade policy and effective customs regulations” at a meeting of the Steering Committee on Trade Capacity and Standards of the United Nations Economic Commission for Europe.
Georgian external trade turnover amounted to $10.26 billion in January-June 2023, posting a 20.1 percent increase year-on-year, the Georgian National Statistics Office revealed on Thursday.
Georgian external trade turnover amounted to $12.09 billion in January-July 2023, posting a 18 percent increase year-on-year, the Georgian National Statistics Office revealed on Monday.
Turkey ($1.68 billion), Russia ($1.50 billion) and the United States ($1.02 billion) were the top trading partners of Georgia in its total external trade turnover in 2022, preliminary data from the National Statistics office of Georgia show.