Turkey-Georgia Trade Volume Aims for $5 Billion in 2024

Turkey-Georgia Trade Volume Aims for $5 Billion in 2024

The Foreign Economic Relations Board (DEİK) Turkey-Georgia Business Council President, Osman Çalışkan, announced that the trade volume between Turkey and Georgia is anticipated to reach $5 billion this year, following the successful achievement of a $3 billion target in bilateral trade last year.

“We view Georgia as a gateway to the Caucasus and are keen to expand our sales to both Georgia and the broader Caucasus region,” stated Çalışkan.

Highlighting the sectors driving Turkey’s exports to Georgia, Çalışkan emphasized the significance of construction materials, food, and textile products. He also pointed out the abundance of mineral resources in Georgia.

Çalışkan noted that renowned global textile brands have established factories in Georgia, contributing significantly to the country’s employment sector. As the Georgia International Investors Association, Çalışkan mentioned their role in creating employment for 21 thousand people.

In terms of trade advantages, Çalışkan underlined that the European Union does not impose quotas on Georgia. Companies producing over 51% of their goods in Georgia can export to Europe without quota restrictions, using the “Made in Georgia” label.

Ranking seventh globally for ease of doing business, Georgia’s strategic location near Turkey, Europe, and the Caucasus regions makes it an attractive investment destination. Çalışkan encouraged Turkish investors to consider Georgia, emphasizing the logistical advantages. “A textile product manufactured in Georgia can be delivered within 24 hours by sea, air, or land to Istanbul,” he explained.

Çalışkan reported that investors from various countries are showing interest in Georgia. The country offers support to investors, including land and building assistance, along with grants for those investing in the agricultural sector.

Beyond economic ties, Çalışkan stressed the importance of cultural and educational cooperation, emphasizing that Georgia, though small, plays a crucial role as a gateway to the Caucasus. He concluded by advocating for comprehensive support beyond trade, fostering a strong and friendly relationship between the two nations.

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Renato Gerletti