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ISET-PI analyzed the potential for Georgia to specialize in the production of several types of engineering goods: Insulated wire and cable; Pleasure and sport vessels; Cargo containers; Derricks, cranes, and straddle carriers.
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Oil prices have endured a large and persistent decrease due to increased worldwide production and the weakness of global demand. Prices are soon expected to stabilize around USD 60/barrel. ISET-PI and GET have focused on the improved terms of trade that Georgia could potentially see due to its high share of energy imports compared to its GDP indicators.
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Georgia’s wine industry is heavily dependent on export to CIS countries, especially Russia. Two main short-run risks associated with the Russian market presently affect Georgian wine exports: The possibility that Russia might cancel its free trade agreement with Georgia, and the economic slowdown in Russia which could lead to reduced demand for Georgian wine.
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For resilient economic development in Georgia, the country should encourage exports of higher-value added goods. In this report, ISET-PI and GET have found that Georgia might be able to develop a comparative advantage when it comes to exporting higher-value energy-intensive products. According to projections of its electricity network operator, Georgia will develop excess capacities of low-cost electricity in the next decade.
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The Policy Brief predicted potential for Georgia to specialise in the international provision of business services (PP/01/2015). Potential was predicted in the service trade category of “other business services”, encompassing mainly.