On 10th of March 2022, the Investors Council members held an online internal meeting in order to discuss the impact of Russia’s War on Ukraine on the Georgian Economy and understand what new challenges this may bring to the business climate in order to address them and set new targets for upcoming IC activities.
The Head of the Investors Council Secretariat Mr. Giorgi Cherkezishvili moderated the meeting, presenting a detailed research of the “Economic relations between Georgia-Ukraine and Russia: Impact analysis of Russia’s war on Ukraine”.
The study included statistics from 2021 regarding Trade Relations, i.e. import and export, FDI, tourism and remittances between Georgia-Russia and Georgia-Ukraine, as well as economic growth forecast for 2022.
After the presentation, the members discussed several immediate issues, such as how to send aid to Ukraine; the importance of diversity of suppliers in terms of economy and security; finding alternate markets for Georgian SMEs and Georgia’s way to the EU accession.
Since the situation is changing rapidly, the participants decided to organize another meeting shortly in order to discuss the existing situation as well as possible topics for the next Investors Council Meeting.