Georgia's economy shows potential for increased exports to Europe, but challenges such as certification requirements and limited capital hinder progress.
Many Georgia n economic sectors are well positioned to increase exports to Europe, according to the findings of a new study commissioned by the European Union and United Nations. The report’s contents paint a picture of an economy eager to do business with Europe at a time when many Georgia ns say the government is undermining the country’s relationship with the EU.
” Companies need capital to overcome existing barriers but the capital market in Georgia is not well developed, said Davit Keshelava, head of macroeconomic policy research at the International School of Economics in Tbilisi. “Access to finance is a big issue because the major source of funding is bank loans, which are quite expensive,” Keshelava told Eurasianet. The government, dominated by the Georgian Dream party, is injecting an element of uncertainty into the equation.
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