Low Share of EU in Exports is Alarming – Giorgi Gudabandze
"The low share of the EU in exports is alarming," said Giorgi Gudabandze, Associate Partner at SavvY, in an interview with BMG.
Exports from Georgia to the European Union have dropped to record lows. In the first ten months of 2014, Georgian businesses exported only $456 million worth of goods to EU countries. The EU’s share in Georgia’s total exports fell below 10%, reaching just 8.4%.
"The country and the private sector are not prepared for a market with high-level requirements. Moreover, Georgia’s recognition as a supplier of specific products in the EU market is quite low, which results in a lack of trust from European buyers in long-term business relationships. Logistics also remains a major issue, limiting Georgia’s competitiveness. We are not fully utilizing our geographical advantages, and as an overall result, our export share remains low," said Giorgi Gudabandze.