Doing Business in Georgia
EENI - Business School.
Subject (Course): International Trade and Business in Georgia. Georgian economy. Syllabus:
- Introduction to the Georgia.
- Georgian Economy
- Business in Tbilisi
- International Trade of Georgia
- Foreign Direct Investment (FDI) in Georgia.
- Business Opportunities in Georgia.
- The European Union-Georgia trade relations.
- Access to the Georgian Market
- Business Plan for Georgia
Objectives of the subject “Doing Business in Georgia”:
- To analyse the Georgian economy and foreign trade
- To evaluate business opportunities in Georgia
- To explore trade relations with the student's country
- To know Georgia's Free Trade Agreements (FTAs)
- To develop a business plan for the Georgian Market
Subject Description: foreign trade and Doing Business in Georgia:
- Georgia shares borders with Russia, Turkey, Armenia, and Azerbaijan.
- The official languages of Georgia are Georgian and Abkhaz.
- Capital: Tbilisi
- Georgian Currency: Lari
- Population: 3,7 millions of people
- Area: 69,420 square kilometres
- Religion in Georgia:
Most of the population practices Eastern Orthodox Christianity (84%)
- Independence from the Soviet Union: 1991
Georgia belongs to the Economic Area of the Orthodox Civilisation.
- Georgia is a link between Europe and Asia, Georgia offers direct access to the European Union, to the Cooperation Council for the Arab States of the Gulf, and the Commonwealth of Independent States (CIS) markets (1 billion consumers).
- Georgia is a
key location for centralised regional market operations in the Black Sea Region.
- Georgia ranks thirteenth out of 183 economies (Doing Business Report, the World Bank).
- Previous to the global economic crisis, Georgia experienced sole Economic growth, with a four Year Average Gross domestic product Growth Rate of 10.5% before the crisis.
- Notwithstanding recent slowdowns in gross domestic product growth and foreign direct investment caused by the Global financial crisis, a real
gross domestic product of Georgia growth rate was 6.4%. This growth has been fuelled by substantial local and foreign direct investment (FDI).
Foreign Trade of Georgia.
Total international trade turnover of Georgia was 6.7 billion dollars (increase of 199% since 2005).
External trade regimes of Georgia:
- Free Trade Regime - with Commonwealth of Independent States countries and Turkey (since 2008)
- Most-favoured-nation Regime (MFN) - with the World Trade Organisation member countries
- Preferential Regime (Generalised System of Preferences) - with United States, Canada, Japan, Switzerland, and Norway
- Preferential Regime (GSP+) - with the European Union (7,200 products duty free)
- Possibility of Free Trade Agreement (FTA) with the European Union in the nearest future (European Neighbourhood Policy - Black Sea Synergy)
Georgian National Investment Agency is a sole public agency responsible for promoting and facilitating
foreign direct investment (FDI) in Georgia.
Georgia's Institutions and Trade Agreements:
- Regional Organisation for Democracy and Economic Development (GUAM)
- Black Sea Economic Cooperation (BSEC)
- European Neighbourhood Policy - European Union-South Caucasus
- EU's Generalised System of Preferences (GSP)
- Turkey-Georgia Free Trade Agreement (FTA)
- Georgia-Ukraine-Azerbaijan-Moldova Free Trade Agreement (FTA)
- Georgia's Free Trade Agreements (FTA) with the European Union, Armenia, Azerbaijan, Russia, Turkey, Ukraine, Kazakhstan, Turkmenistan, and Uzbekistan
- Black Sea Synergy
- Organisation for Security and Cooperation in Europe (OSCE)
- Georgia is also a member of the United Nations (UN), the Council of Europe, the European
Union initiative, the World Trade Organisation (WTO), the Economic Cooperation and Development
- Georgia is a partner in the TRACECA corridor.
Sample of the subject - Doing Business in Georgia: