ISET-PI and GET have predicted the potential for Georgia to specialize in the international provision of business services. This potential can be primarily applied to the following practices: Operational leasing services, Legal and accounting services, Management consulting and public relations, advertising, market research, R&D, architectural and technical services.
The analysis of the current situation in Georgia and on the world market revealed the presence of limited genuine export and showed that present business services exports are largely the byproduct of other economic activities.
As for the competitive potential of Georgia for producing these goods, the team has identified three key competitive factors: The analysis of Human Capital showed Georgia has highly competitive wages in service sector jobs, but with the need for additional training. Additionally, Georgia has been characterized as having an excellent business environment with a low tax burden, efficient bureaucracy, and low levels of corruption. Finally, Georgia has a strong infrastructure for business communication services.
Since September 2014, the ISET Policy Institute has been working with the German Economic Team (GET). In May 2015 ISET-PI and GET extended their partnership and began working on a variety of policy briefs for Georgia's industrial development. These briefs will simultaneously advance research in the sector and provide the Georgian government a set of guidelines for the development of its own policy, exploring where Georgia's comparative advantages lie. The German Economic Team is a consulting group that provides advisory services to the Georgian government on economic policy and is supported by the German Federal Ministry for Economic Affairs and Energy.