Business in Georgia

The objectives of the subject “International Trade and Business in Georgia” are the following:

1. To analyze the Georgian Economy and Global Trade;
2. To know the business opportunities in Georgia;
3. To explore the trade relations with the country of the student;
4. To know the Georgian Trade Agreements;
5. To develop a business plan for the Georgian Market.

The Subject “Foreign Trade and Business in Georgia” belongs to the following Online Programs taught by EENI Global Business School:

Doctorate: European Business, World Trade.

Masters: International Business, Foreign Trade.

Languages: Georgia Géorgie.

1. Credits of the subject “Foreign Trade and Business in Georgia”: 1 ;
2. Duration: one week.

1. Corridor Europe-Caucasus-Asia (TRACECA);
2. Trans-Caspian Corridor;
3. Afghanistan-Turkey Corridor (Lapis Lazuli);
4. Access to the Islamabad-Tehran-Istanbul Corridor (ITI-ECO);
5. Access to the China-Central Asia-West Asia Corridor.

Georgian Preferential Access and Free Trade Agreements:

1. Georgia and the Orthodox Economic Area;
2. Regional Organization for Democracy and Economic Development;
3. Black Sea Economic Cooperation;
4. Central Asia Cooperation (CAREC);
5. EU
   1. European Union-Georgia Free Trade and Association Agreement;
   2. European Neighborhood Policy;
   3. EU-South Caucasus;
   4. EU's Generalized System of Preferences (GSP) +;
   5. Black Sea Synergy;
   6. EU Eastern Partnership.
6. EFTA-Georgia Free Trade Agreement;
7. Turkey-Georgia Free Trade Agreement;
8. China-Georgia Free Trade Agreement;
9. Georgia-Hong Kong China Free Trade Agreement;
10. Georgia-Ukraine-Azerbaijan-Moldova Free Trade Agreement;
11. UK-Georgia Free Trade and Economic Integration Agreement;
12. Georgia-Armenia Free Trade Agreement;
13. Georgia-Azerbaijan Free Trade Agreement;
14. Georgia-Kazakhstan Free Trade Agreement;
15. Georgia-Russia Free Trade Agreement;
16. Georgia-Turkmenistan Free Trade Agreement;
17. Georgia-Ukraine Free Trade Agreement;
18. Georgia-Uzbekistan Free Trade Agreement;
19. SICA (observer).

1. WTO
   1. Agreement on Trade in Services (GATS);
   2. Agreement on the Application of Sanitary Measures;
   3. Agreement on Technical Barriers to Trade;
   4. Agreement on Preshipment Inspection;
   5. Agreement on Safeguards;
   6. Trade Facilitation Agreement.
2. WCO
   1. Revised Kyoto Convention.
3. Organization for Cooperation between Railways (OSJD);
4. COTIF Convention;
5. CIM, CIT Rail Rules;
6. International Bureau of Containers and Intermodal Transport (BIC);
7. Chicago Convention (ICAO);
8. International Maritime Organization (IMO)
   1. Convention for Safe Containers;
   2. Istanbul Convention.
9. Customs Convention on Containers;
10. Hamburg Rules;
11. International Road Transport Union (IRU)
    1. TIR Convention;
    2. Guidelines on Safe Load Securing for Road Transport.
12. Transit and Transport Cooperation Agreement (Lapis Lazuli Route Agreement).

European Trade and Economic Organizations:

1. OSCE;
2. European Council;
3. Economic Cooperation and Development.

Global Organizations:

1. UN
   1. UNCTAD;
   2. ITC;
   3. WIPO.
2. WB;
3. WTO;
4. IMF;
5. Community of Portuguese Speaking Countries (observer country).

1. Georgia shares borders with Russia, Turkey, Armenia, and Azerbaijan;
2. The official languages of Georgia are Georgian and Abkhaz;
3. Capital of Georgia: Tbilisi;
4. Georgian Currency: Lari;
5. Georgian Population: 3.7 million people;
6. Area of Georgia: 69,420 km²;
7. Independence of Georgia from the Soviet Union: 1991.

Religion in Georgia: Most of the Georgian population practices the Eastern Orthodox Christianity (84%).

Georgia belongs to the Orthodox Economic Area.

Georgian Economy.

1. Georgia is a link between Europe and Asia, Georgia offers direct access to the EU, the Cooperation Council for the Arab States of the Gulf, and the Commonwealth of Independent States (CIS) markets (1 billion consumers);
2. Georgia is a key location for centralized regional market operations in the Black Sea Region;
3. Georgia ranks thirteenth out of 183 economies (Doing Business Report, World Bank);
4. Previous to the global economic crisis, Georgia experienced a sole Economic growth;
5. Notwithstanding recent slowdowns in the 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.

International Trade of Georgia.

1. Total Foreign Trade turnover of Georgia was 6.7 billion dollars;
2. Georgia is a partner in the TRACECA corridor.

Foreign trade regimes of Georgia:

1. Free Trade Regime - with the Commonwealth of Independent States countries and Turkey (since 2008);
2. Most-favoured-nation Regime (MFN) - with the World Trade Organization member countries;
3. Preferential Regime (Generalized System of Preferences) - with the U.S., Canada, Japan, Switzerland, and Norway;
4. Preferential Regime (GSP+) - with the EU (7,200 products duty-free);
5. Possibility of Free Trade Agreement (FTA) with the EU in the nearest future (European Neighborhood Policy - Black Sea Synergy).

The Georgian National Investment Agency is a sole public agency responsible for promoting and facilitating the foreign direct investment in Georgia.

(c) EENI Global Business School (1995-2023)
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