Daily Archives: May 1, 2018

External Trade Grows

TBILISI(BPI)- Exports experienced a 28% increase, while imports grew by 21% in 1Q18. In the January-March period, Georgia’s external trade turnover (excluding undeclared trade) totaled 2.8 million USD, up 23.3% from last year, including exports totaling 740.3 million USD (up 28.4%) and imports amounting to 2,083.4 million USD, up 21.6%. Georgia’s negative trade balance equaled to 1,343.1 million USD, which ...

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Energy Community Secretariat Presents Electricity Supply Rules in Georgia

TBILISI(BPI)- Experts from the Energy Community Secretariat presented draft rules for electricity supply to the National Energy and Water Supply Regulatory Commission (GNERC) and distribution system operators in Georgia. The adoption of the rules, which were developed under the framework of the EU4Energy project, is a necessary part of the electricity market reform process and is important for opening up ...

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Asian Development Bank to Finance Construction of Khevi-Ubisa Section

TBILISI(BPI)-The Asian Development Bank (ADB) will finance construction of Rikoti Pass road, Khevi-Ubisa 12.2 km section. The First Deputy Minister of Regional Development and Infrastructure of Georgia Irakli Karseladze, along with representatives of Asian Development Bank discussed the issue of financing of the Khevi–Ubisa section, reviewed the progress of the projects financed by the Bank and future plans. The Asian ...

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Georgia-EFTA Free Trade Agreement Comes into Effect

TBILISI(BPI)- On May 1, 2018 the free trade agreement between Georgia and European Free Trade Association (EFTA) came into force with all member countries, Ministry of Economy and Sustainable Development of Georgia told the Commersant. The agreement was put into action with Norway and Iceland on September 1, 2017, while today two other members of the Association, Switzerland and Lichtenstein ...

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European Investment Bank Plans to Invest €400 million

TBILISI(BPI)- The European Investment Bank will invest €400 million in Georgia, and the largest amount will be spent on infrastructural projects. Vazil Hudak, the Vice President of the European Investment Bank stated this on the TV program Business Morning Today. “Around €400 million will be invested in Georgia, and € 250 million will be allocated for infrastructure construction, we want ...

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Germany to Allocate 252.7 million EUR to Georgia

TBILISI(BPI)- As part of consultations with Government of Germany in autumn 2017, we have agreed to cooperate in the priority directions that will ensure further development of Georgia, Minister of Finance Mamuka Bakhtadze after signature of agreement on financial cooperation. Minister of Finance Mamuka Bakhtade expressed gratitude to German Ambassador for the support that Government of Germany provides for financing ...

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Georgian Smart Ring CNICK is Amazon’s Choice

TBILISI(BPI) -Georgian ”Smart ring” CNICK became Amazon’s Choice. As for company founder Koba Tsertsvadze said to BM, the reason is its reliability and rating. Knick launched sales through Amazon since last year, which is very popular product among customers nowadays. ”Our product is available worldwide, although we focus on American market, as it’s huge and demand is high. We had ...

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