Strengthening capacity of business support organizations on DCFTA and SME related policies.

On January 26, 2017, the International Chamber of Commerce (ICC) conducted its 13th Consultative Board Meeting, attended by the board members, Commission Chairs, ambassadors, bankers, and senior representatives of Georgian businesses. The Georgian government was represented by Mr. Giorgi Gakharia, the Minister of the Economy and Sustainable Development, and his deputy, Ms. Keti Bochorishvili.

Protectionism and any kind of import restrictions have supporters in every country, and Georgia is no exception. Recently, I attended a lunch meeting on the need for an antidumping law, organized by Georgian Lawyers for Independent Professions, Governing for Growth (G4G), and the Society of Free Individuals. Participants from different sectors and institutions presented their views on the possible economic consequences of antidumping regulations currently being discussed by the Georgian government.

The Georgian Business Confidence Index (BCI) has decreased by 7.4 percentage points (-7.4, QoQ), but at 17.6 it remains higher than it was in the same quarter last year (12.0). The fourth-quarter decrease in the index was mostly driven by a significant decline in expectations.

My dad used to tell me stories about the exciting period when the Soviet Union’s economy started faltering and public resources were suddenly up for grabs in the chaos of capitalism that emerged. While this period is usually associated with the appearance of crafty oligarchs, in Georgia also less wily businessmen could exploit the circumstances, among them many Turks.