Businessmen Meeting Chief Advisors of the Prime Minister of Georgia to Discuss International Trade Relations and 2009 Macroeconomic Parameters

12 Feb '10

In order to discuss international trade relations and 2010 macroeconomic parameters the Business Association of Georgia and GoG, representatives met on February 12 at Sheraton Metekhi Palace Hotel. Advisors to the Prime Minister of Georgia Ms. Tamar Kovziridze and Mr. Vakhtang Lezhava made speeches at this meeting.

Vakhtang Lezhava provided the participants with the information about economic situation existing in the country and mentioned that according to statistical data available for the Government, there are positive trends observed in numerous areas. Namely, 2% GDP growth is expected already by the end of the year; Compared to the last year's similar period tax remittances have grown by 5,3%; payment balance has improved and amount of deposits in the banking sector has increased; According to him, the Government is continuing to work actively for attraction of investments and carries on with the implementation of the reforms for diversification of economy.

International trade relations was presented by Ms. Tamar Kovziridze; She stated that FTAs have already been signed with Turkey and CIS countries, whereas with USA and EU Georgia is enjoying trade preferences as a GSP beneficiary.

FTA with the EU is in the process of signature and is linked with implementation of numerous reforms in the areas of food safety, intellectual property and antimonopoly regulations; introduction of food safety system has already started and it is planned to restructure the antimonopoly service into the legal entity of public law.

At the initiative of the BAG President, another meeting to discuss foreign trade related issues will be held under the auspices of the Association.

At the end of the meeting Griogi Chirakadze informed the participants that newsletter about the Association's work has been developed. In addition, it is planned to make a documentary movie about the Association's member companies and business climate in the country in general to support the Government to provide potential investors with more information.