Türkiye, Georgia trade close to record $3 billion as ties grow: Envoy

The bilateral commerce quantity between Türkiye and Georgia has approached a document $3 billion as the 2 international locations are set to extend the speed whereas enhancing ties, Georgia’s Ambassador to Ankara George Janjgava mentioned.

In an unique interview with Every day Sabah, Janjgava mentioned, In 2022 Türkiye was Georgia’s largest buying and selling accomplice – based on statistics, commerce turnover amounted to $2.81 billion.”

Saying that he anticipated commerce to develop even additional all through 2023, the ambassador added: “In April 2021, a diagonal cumulation mechanism was launched between Georgia, Türkiye and the European Union, which is able to considerably facilitate trilateral commerce and stimulate exports to new sectors. The diagonal cumulation mechanism permits the sale of merchandise made in Georgia with Turkish industrial uncooked supplies within the European Union market.”

“Moreover, the Georgian market totally opened for high-quality and GMP commonplace Turkish medicines in January 2022 on the initiative of the Prime Minister of Georgia Irakli Garibashvili,” Janjgava highlighted.

The $2.8 billion determine for 2022 is a results of commerce turnover rising by 30% in comparison with the earlier 12 months.

“That is the best historic index between the 2 international locations and is about $655 million greater than 2021 figures, which was $2.15 billion,” mentioned Ambassador Janjgava, stressing that Türkiye ranked first amongst Georgia’s high 10 buying and selling companions with a 15% share in complete commerce turnover in 2022.

“When it comes to imports, Türkiye ranked first with an 18% share, whereas it ranked fifth after China, Russia, Azerbaijan and Armenia in exports with an 8% share. Exports to Türkiye elevated by 35% to $435.5 million whereas imports from Türkiye grew by 30% and reached $2.37 billion in 2022,” he continued.

Favorable funding local weather

When it comes to funding, Georgia presents a good funding local weather for Turkish traders. Türkiye ranked seventh with $106.5 million of international direct funding in 2022.

Janjgava mentioned that that his nation’s favorable funding setting can be seen within the scores of worldwide establishments. Georgia held the seventh place within the “Ease of Doing Enterprise” rankings of the World Financial institution in 2020, whereas based on the “Index of Financial Freedom 2022” of the Heritage Basis, Georgia is the twenty sixth freest within the 2022 index.

Each international locations inked many important bilateral agreements together with the Free Commerce Settlement and Joint Financial Commerce Committee (JETCO), whereas additionally rising the variety of joint initiatives within the power subject.

On rising power ties, the ambassador mentioned: “Regional power initiatives carried out via joint Georgian-Turkish efforts, such because the Baku-Tbilisi-Ceyhan oil pipeline and the Baku-Tbilisi-Erzurum fuel pipeline, are of nice significance. Energetic cooperation continues for the complete implementation of the Southern Gasoline Hall venture (TANAP and TAP) and the Baku-Tbilisi-Kars railway venture.”

Formally opened on Oct. 30, 2017, the Baku-Tbilisi-Kars railway immediately connects Türkiye, Georgia and Azerbaijan lowering the cargo interval from 35 to 15-17 days and shortening the space from Europe to Asia by 6,800-7,500 kilometers (round 4,225-4,660 miles). Within the first stage, the capability of the venture is concentrating on 5 million tons of cargo per 12 months with the attitude of accelerating it to as much as 15 million tons and 1 million passengers per 12 months. In 2022, 435,000 tons of cargo have been transported by the Baku-Tbilisi-Kars railway.

Rising tourism

The 2 international locations additionally get pleasure from rising ties within the subject of tourism, boosted by the truth that Turkish residents can journey to Georgia visa-free for as much as one 12 months.

“Türkiye ranked second with 925,561 guests to Georgia in 2022. Turkish Airways (THY), Anadolujet and Pegasus function 72 flights every week from Ankara, Istanbul and Antalya to Tbilisi and Batumi,” the ambassador identified.

Furthermore, Janjgava mentioned that the Sarp border gate between Georgia and Türkiye was crossed, from each side, by greater than 5 million individuals of all nationalities in 2022.

Türkiye and Georgia have taken essential steps to boost bilateral ties prior to now decade. The bond between Ankara and Tbilisi has been strengthened via the institution of the Excessive-Degree Strategic Cooperation Council.

Türkiye, as a strategic accomplice, is a powerful supporter of Georgia’s territorial integrity and sovereignty. On the similar time, Türkiye helps Georgia’s Euro-Atlantic aspirations. The constructive dynamics of the event of bilateral political relations are evidenced by the intensive high-level visits made over time.

Most not too long ago, Georgia’s Prime Minister Irakli Garibashvili visited Türkiye following the lethal earthquakes of Feb. 6 that jolted the nation’s southeast and expressed readiness to supply any help vital.

Round 200 Georgian professionals participated within the search and rescue operations in Türkiye’s metropolis of Adıyaman, which was one of many worst affected by the devastating quake, and after a rotation, they continued the rescue efforts in Hatay province’s Antakya.