Turkmenistan expanding trade with Georgia

The opening ceremony of the Tbilisi Sea Plaza shopping mall was held in Tbilisi, Georgia, the Turkmen Foreign Ministry said in a message. According to the message, “Turkmenistan” store with a wide range of textile products, carpets and rugs, souvenirs, was opened in the shopping mall. Georgian Prime Minister Giorgi Kvirikashvili attended the opening ceremony.…

Georgia ready to expand partnership with Turkmenistan

President of Georgia Giorgi Margvelashvili sent a letter to his Turkmen counterpart Gurbanguly Berdimuhamedov on the occasion of the 25th anniversary of establishing diplomatic relations between the two countries, the Turkmen government said in a message. In his letter, Margvelashvili expressed readiness to deepen and expand mutually beneficial partnership with Turkmenistan. The Georgian president pointed…

Ukraine and Georgia to jointly develop transport corridor from the Baltics to Caspian Sea

Ukraine and Georgia have agreed on the development of the Baltic Sea – Black Sea – Caspian Sea international transport corridor at the meeting of the joint intergovernmental commission on economic cooperation. Ukraine’s Vice Prime Minister for European and Euro-Atlantic Integration Ivanna Klympush-Tsyntsadze announced this at the briefing. “We agreed to continue cooperation on the…

Georgia: Central Bank increases key rate

The National Bank of Georgia increased its key rate by 25 base points to 6.75% and announced further “gradual” tightening of the monetary policy in the course of the next two quarters. NBG said in a statement that “the decision is based on macroeconomic forecasts,” according to which, NBG expected that this year’s inflation rate…

Georgia: international arrivals up in 2016

Visits to Georgia by foreign citizens reached 6,350,825 in 2016, up by 7.6% YoY, according to the data released by the Interior Ministry. The Interior Ministry compiles statistics based on border crossing data. Travelers entering Georgia and staying in the country for more than 24 hours are classified as “tourists”. Of the total 6.35 million…

Georgia: GDP up in November 2016

Georgia’s real GDP expanded by 2% in November 2016, after a 1.3% growth in October, according to the preliminary data released by the State Statistics Office. Economy grew by 2.4% in the first eleven months of 2016, according to Geostat’s preliminary data. The 2016 economic growth forecast was reduced from 3% to 2.7% as a…

Georgia: EIB to allocate EUR 450 million

The European Investment Bank (EIB) will allocate EUR 450 million to Georgia through three loan agreements, the EIB and Georgian Prime Minister’s Office said. EUR 250 million will be allocated to finance new construction and upgrading of priority roads, EUR 100 million for the rehabilitation and upgrading of municipal infrastructure and a EUR 100 million…

Turkmenistan and Georgia promote joint transport projects

Turkmen President Gurbanguly Berdimuhamedov discussed the further cooperation prospects at the meeting with his Georgian counterpart Giorgi Margvelashvili. Stressing that Georgia played an important role in the integration of the Black Sea and the Caspian Sea, President Margvelashvili confirmed the readiness to act as a reliable partner in the implementation of joint transport projects, the…

Ukraine to sign deal with Georgia on arranging direct ferry-railroad services

Ukraine and Georgia have signed an agreement at the governmental level on arranging direct international railroad services through the two countries’ seaports, the Ukrainian Infrastructure Ministry press service reported. The agreement was signed at the International Maritime Forum in Batumi on September 13. “We signed a very important document today, which links Ukraine, Georgia, Kazakhstan…

Azerbaijan mulling cargo tariffs reduction with Kazakhstan and Georgia

Heads of railway administrations of Kazakhstan, Azerbaijan and Georgia have discussed mutually beneficial cooperation and creation of favorable conditions for cargo transportation with cargo shippers, major operators and freight companies of Kazakhstan in Astana, the press service of Kazakhstan Railways JSC reported. In particular, the sides talked about the reduction of tariffs for transportation of…

Georgia and Turkey mull issues of strategic partnership

Georgia and Turkey agreed to support extending the strategic partnership during the first meeting of the Strategic Cooperation Council between the two countries in Ankara, the Georgian government press office said. The one-day High Level Strategic Cooperation Council between Georgia and Turkey kicked off July 19 with participation of Georgian Prime Minister Giorgi Kvirikashvili and…

Georgia: wine exports up in H1 2016

Georgia exported 19.8 million 0.75-liter bottles of grape wine in January-June, up by 44.5% YoY, the National Wine Agency of the Ministry of Agriculture said. Revenue from wine exports to 40 countries grew by 18% to $46.6 million. According to the agency, the biggest importer was Russia with 10.198 million bottles, up by 56% YoY,…