ISET

ISET Economist Blog

A blog about economics in the South Caucasus.
Jul
09

Great Expectations: Does the DCFTA Really Boost Georgia’s Economic and Export Potential?

On June 27, 2014, Georgia and the EU signed an Association Agreement (AA) and its integral part – the Deep and Comprehensive Free Trade Area (DCFTA). On July 1st, 2016, DCFTA fully entered into force. Until then, trade between Georgia and the EU was regulated by the Special Incentive Arrangement for Sustainable Development and Good Governance that contained a Generalized System of Preferences+ (GSP+) agreed to in 2005.  GSP+ covered 7,200 products for which the customs duty was reduced or eliminated when exporting to the EU market. It is w...
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Jun
11

Sweet Little Lies – Things That Make Us “Happy”

  On May 17, 2017, the Georgian government adopted amendments to the Tobacco Control Law with 85 votes in favor, and only one against. This highly debated new regulation, which bans smoking in public places, was initiated by Parliament member Ms. Guguli Maghradze who just recently discussed the obesity problem in Georgia, which is caused partly by excess sugar consumption. Georgian public which is familiar with statements turning into law considered Ms. Maghradze’s statement as a prelude to enacting a sugar tax in Georgia. During the informal interv...
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May
07

Georgia’s Economy Grows, Agriculture Shrinks: What Should We Do?

Since 2012, when the political party Georgian Dream took leadership of the country’s governance, economic [real] growth reached its highest rate in 2017 (5.0%). The drivers of this growth were construction (11.2%), hotels and restaurants (11.2%) and the financial sector (9.2%). However, a few sectors of the economy declined in 2017, and one was agriculture (-2.7%). Experts on this sector agree that 2017 was a “bad year” for Georgia’s agriculture. Winter lasted longer and spring frost damaged fruit plantations. This was followed by some periods of drought...
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Apr
07

Blockchains for Agriculture: The Future is Unwritten

  Blockchain technology became a huge story last year due to the hype over cryptocurrencies such as Bitcoin and Etherium. Banks and other financial institutions are rushing to adopt blockchain technology. Nowadays, about 15% of financial institutions use blockchain technology to secure and validate transactions. IBM was the one of the first companies that saw the potential of blockchain use and encouraged startups related to the concept. While blockchain technology is mainly associated with the use of cryptocurrencies, the concept can be implemented...
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Feb
26

Organic Is The New Black!

  Year by year, interest in the organic market is increasing all over the world. According to STATISTA, worldwide sales of organic food quintupled in the 21st century (18 billion USD in 2000, versus 90 billion USD in 2016), while, according to TechSci Research, the total worth of the market is projected to grow at a compound annual growth rate (CAGR) of 16.15% during the period 2017-2022. In fact, in some developed countries, the growth of supply of organic foods cannot keep up with the growth of demand (OCA, 2018), as the transition from conventio...
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