Georgia-China Regional Cooperation (GCRC) Association Signs Memorandums with Georgia’s Ministry of Economy and China’s CCCME

In terms of international travel revenue in the first quarter of 2025, a high percentage increase was recorded from Azerbaijan - 19.8% and from Saudi Arabia - 12.3%. At the same time, according to statistics, travel revenue from Israel stands out with a high growth rate, which in the first quarter of 2025 showed a 73.7% increase compared to the same period of the previous year and amounted to $114.2 million.The share of EU countries in international travel revenue in the first quarter of 2025 was determined at 12.5% ​​and amounted to $103.2 million.Travel revenue from Russia is characterized by a decreasing trend - in the first quarter of 2025, travel revenue from Russia to Georgia decreased by 17.2%.Georgia's tourism revenue in the first quarter of 2025 is distributed as follows: Azerbaijan  -  USD 48.6 million Belarus - USD  15.9 million Turkey – USD 107.1 million Iran – USD  27.2 million Israel – USD 114.2 million Russia – USD 141.8 million Saudi Arabia – USD 8.7 million Armenia – USD 28.2 million Ukraine – USD 33.7 million European Union – USD 103.2 million Other countries – USD 197.4 million

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The meeting was organized by the investment bank J.P. Morgan and was attended by about 15 investors. Among them were such well-known companies as: Danske Bank, Morgan Stanley, Shiprock Capital Management, Eaton Vance Corp and others.In a presentation format, the National Bank Governor introduced the latest indicators of the Georgian economy to international investors, spoke about the stable macroeconomic environment and solid fundamental factors, on the basis of which the country is coping with all external challenges.“Our task is to make Georgia’s attractive investment environment clearer to new prospective investors and attract them to the country. And to once again introduce our vision to existing investors and make them want to invest more,” said Natia Turnava.The NBG President drew attention to the International Monetary Fund’s report, according to which Georgia is one of the fastest growing economies in the world. “The growth rate of GDP per capita and low inflation, along with high economic growth, create an attractive environment for potential investors,” said Natia Turnava.

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During the meeting, the Georgian officials highlighted the country’s strong and stable economic performance, characterized by low inflation and robust growth. They emphasized that Georgia’s price stability is the result of a consistent monetary policy.Natia Turnava spoke about the country's economic resilience, noting that the Georgian economy remains resilient to external shocks. She underscored the NBG's long-term strategy of accumulating international reserves and ensuring the effective management of reserve assets. As of April 2025, the NBG holds international reserves exceeding USD 4.4 billion.The discussion also highlighted the stability and profitability of the Georgian banking sector, underpinned by strong capital and liquidity buffers.On his part, Alejandro Hajdenberg reaffirmed the Fund’s support for Georgia across various areas.The meeting was also attended by NBG Vice Governors Ekaterine Mikabadze and Ekaterine Galdava; Deputy Minister of Economy and Sustainable Development Vakhtang Tsintsadze; Deputy Ministers of Finance Giorgi Kakauridze and Ekaterine Guntsadze; and Head of the NBG’s Financial Markets Department, Aleksandre Khazaradze.

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According to the agency, in the economic free zone, inspections of 29 companies by international audit companies Bureau Veritas and SGS revealed no violations.During this period, state control was implemented in 88 companies, which involves determining compliance of the wine technological process in enterprises with the requirements defined by Georgian legislation.Moreover, out of 127 samples taken, violations were found in 4 samples from 4 companies."Laboratory studies continue on certain portions of the samples," the National Wine Agency reports.For the purpose of organoleptic testing of export alcoholic beverages, 64 tastings were conducted. Out of 2931 samples submitted for tasting, 2822 were evaluated positively, while 109 samples were evaluated negatively. Organoleptic testing of samples is conducted for color and transparency, typicality, presence of diseases, aroma, taste, and harmony.

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In the first quarter of 2025 a price increase compared to the previous quarter was registered both in flats (2.2 percent) and detached houses (1.8 percent) segments.Compared to the first quarter of 2024, the prices increased in both segments, for flats by 10.9 percent and for detached houses by 13.5 percent.

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The discussion centered on ensuring the sustainability and stability of the banking and financial systems in both countries. The parties also highlighted the importance of strengthening financial ties among the countries along the Middle Corridor.The meeting included a review of the 2025–2026 bilateral cooperation roadmap, developed under the framework of the previously signed Memorandum of Understanding. The roadmap outlines plans for knowledge exchange and collaboration on a wide range of topics, including financial technologies, payment systems, regulation of virtual asset service providers, balance of payments, monetary and macroprudential policy, capital market convergence, banknote issuance, and risk management.Governor Suleimenov emphasized the significance of enhancing bilateral cooperation and expressed his commitment to fostering a more productive and effective partnership.

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In January-March 2025 the share of the top ten trading partners by domestic exports in the total domestic exports of Georgia amounted to 67.4 percent. The top partners were Russia (USD 122.0 million), Türkiye (USD 66.9 million) and China (USD 47.5 million).In January-March 2025 Precious metal ores and concentrates reclaimed the first place in the list of top domestic export items, equaling USD 53.0 million, or 8.3 percent of total domestic exports. The domestic exports Wine of fresh grapes totaled USD 49.6 million and their share in the total domestic exports amounted to 7.7 percent. The domestic exports of Spirituous beverages occupied the third place, standing at USD 45.4 million and constituting 7.1 percent of the total domestic exports.

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The exports equaled 1.4 billion (5.7 percent higher), while the imports stood at USD 4.2 billion (20.1 percent higher). The negative trade balance was USD 2.8 million in January-March 2025 and its share in external trade turnover constituted 50.1%.In January-March 2025 the share of the top ten trading partners by exports in the total exports of Georgia amounted to 78.1 percent. The top partners were Kyrgyzstan (USD 298.6 million), Kazakhstan (USD 176.2 million) and Azerbaijan (USD 140.3 million).In January-March 2025 the share of the top ten trading partners by imports in the total imports of Georgia amounted to 73.2 percent. The top partners were the USA (USD 654.4 million), Türkiye (USD 587.3 million) and Russia (USD 512.9 million).In January-March 2025 the share of the top ten trading partners in the total external trade turnover of Georgia amounted to 70.0 percent. The top trading partners were USA (USD 669.2 million), Türkiye (USD 663.3 million) and Russia (USD 642.8 million).In January-March 2025 motor cars claimed the first place in the list of top export items, equaling USD 500.7 million with 35.7 percent of total exports. The exports of spirituous beverages totaled USD 54.7 million and their share in the total exports amounted to 3.9 percent. The exports of precious metal ores and concentrates occupied the third place standing at USD 53.0 million and constituting 3.8 percent of the total exports.The top import commodities in January-March 2025 were motor cars, whose imports equaled USD 622.2 million (14.8 percent of the total imports). The paintings, drawings and pastels (executed entirely by hand) followed in the list with USD 481.1 million (11.4 percent of imports). The petroleum and petroleum oils were third in the top import commodity list with USD 301.5 million (7.1 percent of imports).

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