We are pleased to announce that, after more than a year of having permanent representation in the country, we have officially opened an office in Kyiv, Ukraine. Our goal there is to engage in projects aimed at advancing the economy and supporting the development of democracy and good governance through policy, structural and administrative reforms.

We are working in Kvemo Kartli to enhance the living conditions of the local population through boosting sanitation in the region.  

We recently launched a new program entitled “Good Governance Fund (GGF),” aiming to reduce corruption, promote transparent and accountable institutions, and to build open, inclusive economies and societies in Armenia, Georgia, Ukraine, and Moldova.

Bolnisi Municipality is one of the most active members of the Mayors for Economic Growth (M4EG) initiative, supported by the European Union. In June 2017, the municipality joined the initiative and swiftly began the implementation of its Local Economic Development Plan, which had been commended by the World Bank’s technical experts.  

In the first half of 2020, external trade turnover in Georgia amounted to 5.054 bln USD, which is 18% less than corresponding period of 2019; Georgian exports amounted to 1.5 bln in January-June 2020, which is 16% less than in January-June of 2019. Moreover, Georgian imports deteriorated even more by reaching 3.5 bln USD, which is 19% less than in the first half of 2019; In the first half of 2020, Georgian trade deficit decreased by 0.55 bln USD (21%), compared to the first half of 2019; There are more EU member states amongst Georgia’s top 10 export partners in the first half of 2020, compared to the first half of 2019; In the period of January-June 2020, total trade turnover with the EU and Russia decreased by 22% and 16% respectively, but increased with China by 10% compared to the corresponding period of last year; Georgia’s main trading partners in the first half of 2020 were Turkey, Russia and China. Their shares in Georgia’s total trade turnover were 14%, 12% and 10% respectively; 77.4% of Georgian exports are concentrated amongst the top ten partners. Moreover, top ten import partners occupy 69.4% of total imports.

In the third quarter of 2020, Georgian economic climate has slightly improved. In this period, Georgian economists assessed Georgia’s present economic situation negatively; Moreover, the assessment of present economic situation in this quarter has improved compared to the second quarter of 2020, but worsened compared to the third quarter of 2019. In the third quarter of 2020, Georgia’s economic situation for the next six months has also been assessed negatively by Georgian economists. Furthermore, expectations for the next six months have enhanced compared with second quarter of 2020, but deteriorated slightly compared with the third quarter of 2019.

In Georgia, the average cost of a room1 in a 3-star hotel was 135 GEL per night in June 2020. While the average cost of a room in a 4-star hotel in Georgia was 223 GEL per night and the average cost of a room in a guesthouse2 was 73 GEL per night. The average cost of a room in a 5-star hotel in Georgia in June 2020 was 322 GEL per night. In Tbilisi, the average price was 471 GEL, followed by Kakheti - 327 GEL, Samtskhe-Javakheti - 279 GEL and Adjara – 273 GEL.

Using various assumptions, in Q3 of 2020, the maximum capacity of domestic tourism expenditures is to replace 33% of revenues from international tourism;  Using various assumptions, total revenues generated from tourism (both, domestic and international) in 2020 could amount to $1730 mln, which is 44.1% of the corresponding figure in 2019; Domestic tourism in Georgia reopened on June 15th, while the reopening of borders is postponed to the near future; The number of international travelers declined by 94.6% in May compared to the same period of 2019, while the number of inter- national visitors fell by 94.1% and the number of international tourists fell by 93.8%; In June 2020, hotel prices do not provide an accurate guidance of the situation in accommodation market due to the fact that the market for accommodations is just starting to recover from the COVID-19-induced crisis.

It’s been five years after DCFTA was implemented and two years have passed since FTA with China. It is interesting to conduct ex-post analysis to find out how these FTAs affected Georgia’s economy. Goal of ex-post analysis will be to determine what qualitative and quantitative impacts are observed after Georgia signed DCFTA and FTA with China, on macro and sectoral levels. Also, the research paper will try to find if DCFTA and FTA with China resulted in welfare gains. To be more precise, the paper aims to determine whether the increase in trade was a result of trade creation or trade was diverted.Another aim is to analyze quantitative effects on imports and exports on different aggregation levels. For conclusion, research paper will analyze differences and similarities between DCFTA and FTA with China and based on these empirical findings, the research will identify possible threats and opportunities, which may come from future free trade agreements.

The main objective of the research is to study the impacts that free trade agreements with the EU (DCFTA) and China had on Georgian economy and political implications that they might result in.

This policy brief attempts to understand China-Georgia relations. Georgia-China economic relations have received particular attention, yet there is a relative lack of research5 on how both Georgia and China see bilateral relations, and what possible factors could be limiting the depth of the partnership. Discussing this is important as Georgia is building closer ties with the EU in particular, and the Western institutions and states in general, while China’s suggested model of development stands opposite to Western liberal order.

The investment catalogue for Kutaisi to stimulate domestic and foreign direct investments in the city.

The export catalog for Imereti Region, showcasing products of the region’s leading manufacturers.