Daily News

IN THIS ISSUE:

National Bank of Georgia reported that out of total remittances, transferred to Georgia in the 1^st quarter ($323.55 million), 5 countries accounted for 82.1% (i.e. for $265.49 million). The top five includes Russia, Greece, Italy, the US and Turkey.

National Bank of Georgia reported that out of total remittances, transferred in the 1^st quarter from Georgia abroad ($38.83 million), 3 countries accounted for 58.6% (i.e. $22.73 million). The top three includes Russia, Ukraine and Greece.

Policy and Management Consulting Group (PMCG) declared that on background of real GDP growth of 3.2% in 2013, agriculture increased the most – by 9.8%. Share of this branch in GDP growth amounted to 0.72 percentage points.

National Bank of Georgia reported that net profit of commercial banks for the 1^st quarter totaled to 94.57 million lari. This showing has increased by 44.92% year-on-year.

National Bank of Georgia reported that overdue loans amounted to 280.08 million lari by the end of the 1^st quarter. This showing has increased by 13.9% year-on-year.

National Bank of Georgia reported that domestic turnover of operations with cards, issued by resident issuers, amounted in the 1^st quarter to 2.2 billion lari. This volume has increased by 26.48% year-on-year.

National Bank of Georgia reported that foreign turnover of operations with cards, issued by resident issuers, amounted in the 1^st quarter to 170.47 million lari. This showing has increased by 33% year-on-year.

Georgian government reported that Belgian business delegation, visiting Georgia for acquainting with local investment environment, held meeting with Georgia’s Prime Minister Irakli Garibashvili today.

Delegation, headed by Prince Juan Bagration-Mukhran and co-founder of ProSeed Capital Holdings CVA Benjamin Van Oudenhove combining representatives of about 15 Belgian leading business companies, the government said.

Kakha Gogolashvili, director of Center for European Studies, commented to Sarke on Deep and Comprehensive Free Trade Agreement with EU (DCFTA).

On what extent is Georgia ready for mastering European market?

Gogolashvili: Georgia at this stage is not a country, which can massively and intensively master EU market, but DCFTA is opportunity, which is opening for our industry, agriculture in order to target this market, as Georgian production’s entry to this market will became much easier.

Sarke interviewed local exporters regarding their plans in case of signing of Deep and Comprehensive Free Trade Agreement (DCFTA) between Georgia and EU.

Sarke’s questions responded wine companies Teliani Valley and Khareba, beer and nonalcoholic beverages producer Zedazeni, confectioneries Barambo and Churchkhela Georgia, juices and canned food producer Kula and sewing factory Elselema.

Chairman of National Wine Agency Levan Davitashvili declared that unlike food and other sectors of agriculture, wine industry has already implemented significant works in terms of quality control. Respectively, EU has no questions of sanitary nature, i.e. barriers, regarding Georgian wine, he pointed.

Chairman of National Wine Agency Levan Davitashvili declared that there was hampers in Georgian wine export to Belarus in the beginning of the year, but restriction are already removed for now.

“Our activity led to elimination of hampers and we do hope that they will not appear in future as well”, Davitashvili assured at today’s briefing.

Chairman of National Wine Agency Levan Davitashvili declared that most cases of Georgian wine’s falsification are fixed in Kyrgyzstan.

“In Kyrgyzstan, there are two largest companies, totally controlling the market, which were engaged in production of so-called Georgian wine, on what the Agency has reacted”, Davitashvili declared.

Georgian National Communication Commission (GNCC) reported that today the Parliament elected Vakhtang Abashidze as GNCC member. In his support, 85 MPs have voted.

Bank of Georgia Holdings (BOGH) reported that it has paid 7.81 million lari in cash for multiprofile clinic Caraps Medline. Besides, before acquisition, Caraps Medline had loan of 510,000 lari, taken supposedly in Sakartvelos Banki (Bank of Georgia).