Georgia and the UAE today.

The Covid 19 crisis and the Russian war have accelerated a new world order. While all countries without exception are adapting to major trends and migrations, a few are rising distinguishably, supported by this context. New opportunities have emerged.
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Georgia’s growth forecast of 9% in 2022 (IMF), makes it one of the TOP 10 countries with the highest growth rate worldwide. It is now considered the most attractive economy in the Caucasus region. How will the country take advantage of this conjuncture to preserve a sustainable growth rate? 

Geographically, Georgia is at the crossroad of Europe, Asia and the Middle-East. Its resources, culture and history are influenced by its position on the map. Consequently, it is also at the intersection of diplomatic and economic interests in the region.

The United Arab Emirates (UAE) and Georgia recently confirmed a common vision to intensify their collaborations. In mid-September 2022, Ahmed Ali Al Sayegh (the State Minister of the United Arab Emirates for Economy and Trade) and Irakli Garibashvili (the Georgian Prime Minister) made progress on a free trade agreement between the two countries during their meeting in Tbilisi.

Former Georgian Minister of Economy Natia Turnava stated: “Free trade with the UAE will boost Georgian exports to that country and region. Despite the pandemic, turnover between the countries is increasing (+100% for the two passed years in a row), noting that ‘interest is much higher.’ These are agricultural products, fruits, vegetables, meat products, mineral waters, and many other products that we can supply to the market for which there is great interest."

The UAE now accounts for 63% of Georgia’s trade with the Arab world. The CEPA* negotiations will explore removing or reducing tariffs and improving market access. This will help accelerate the flow of Georgia’s principal exports, including cars, gold, and semiconductor devices and boost the energy, transport and tourism sectors.

It will also provide opportunities for the UAE’s services sector, in particular logistics, education, ICT, finance and FinTech. There are also opportunities to co-operate on food supply and agriculture, advanced technology, hospitality, tourism, real estate, and SMEs.

A horizon of opportunities is opening between both countries.
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