Georgian PM highlights “growing trend” in foreign trade, exports, trade turnover

Georgian Prime Minister Irakli Garibashvili on Friday highlighted the “growing trend” in the country’s foreign trade, “record increase” in exports in 2022, and rising trade turnover in his comments for presenting the annual report on the work of the Government at the Parliament.

Garibashvili told PMs exports had increased by 31 percent and amounted to $5.6 billion last year, with trade turnover increasing by 33 percent and reaching $19.2 billion, a number he called “record high”.

He said trade had increased through free trade agreements with countries, noting 45 states with free trade agreements and the independent customs territory of Hong Kong - a combined space representing 2.3 billion consumers, or one third of the global consumer market - received 87 percent of Georgia's exports.

The PM also noted development of the country’s economy based on innovation, new technology and information remained one of the Government's “top priorities”, adding the domestic Innovation and Technology Agency was “actively working” within related grant programmes.

The Government head also mentioned over 200 creative enterprises “with international potential” received ₾35 million ($13.4 mln) in state funding. The support led to beneficiaries earning an income of ₾120 million ($46 mln), attracting up to ₾330 million ($126 mln) in private investment and creating up to 3,000 new jobs, he told lawmakers before noting the Government planned to continue the support