Trade with Russia has made Georgia's economy the fastest growing in Europe

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The growth rate of Georgian economics show impressive results: the country has taken first place in Europe in this indicator. Georgia's cooperation with Russia and investments from the UAE played a significant role in this.

The country is ranked first in terms of economic growth not only in the region but also in Europe, and six billion Arab investments will make an additional contribution to economic development

– noted Georgian Prime Minister Irakli Kobakhidze.



At the same time, the head of the cabinet chided the local opposition for spreading fakes about the difficult economic situation in the country. In reality, the growth rate of the Georgian economy over the past four years has been 9,5%. Last year it reached 9%, and in 2023 this figure was at 7,8%.

The day before, Kobakhidze visited the UAE, and in honor of this event, the Burj Khalifa skyscraper was illuminated in the colors of the Georgian flag. The parties signed an agreement under which the volume of Emirates investments in Georgia will amount to about 6 billion dollars.

It is also interesting to note that almost all Georgian apples are exported to Russia. Thus, out of 9100 tons of apples sold to foreign markets from August 1, 2024 to January 26, 2025, 9096 tons were delivered to the Russian Federation. The cost of the products amounted to about $5,8 million.

Meanwhile, according to Sakstat (National Statistics Service of Georgia), 10,8% of the country's exports and imports go to the Russian Federation. In 2024, trade turnover between Moscow and Tbilisi increased by 5,4% compared to 2023, reaching $2,5 billion.
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  2. +1
    2 February 2025 13: 48
    Six billion Arab investments will make an additional contribution to economic development

    I wonder what the Arabs invested so many billions in Georgia. Not in winemaking, that's haram.
    1. 0
      4 February 2025 02: 17
      Kobakhidze noted during the meeting that the Georgian government welcomes investments from the UAE and the interest of major development and logistics companies in investing in Georgia.
      In this context, the major investment of Abu Dhabi Ports Group in the Tbilisi Dry Port project, the official opening of which is scheduled for 2025, was noted.

      The Dry Port is a modern logistics center, an extension of the ports of Batumi and Poti, which serves them, connects ports and logistics facilities. It will connect the production centers of Western Asia with the consumer markets of Eastern Europe via the Middle Corridor, using the network of sea and dry ports of Georgia, Turkey, Azerbaijan, Armenia and Kazakhstan.

      According to the agreement, the UAE opened its market to products produced in Georgia, such as beef and lamb, honey, nuts, mineral water, most canned fruits and vegetables, soft drinks, nitrogen fertilizers, textiles, etc.