Georgia Creates First Free Trade Zone For The Caucasus Region

The first free trade zone of the Caucasus is currently forming up on 3 060 000m² in the Georgian port Poti at the Black Sea.
First free trade zone of the Caucasus is forming up
First free trade zone of the Caucasus is forming up
April 16, 2010 - PRLog -- The investors from the United Arab Emirates, RAK Investment Authority, acquired a 49 years lasting concession in 2008 and have yet allocated 22 trade licenses within an international field -  companies such as LG Electronic as well as other businesses from Iran, Armenia, Azerbaijan, UAE and South Korea. Interesting for the investors at this juncture are the modern storage possibilities and their appealing prices for lease and rent, a distinguished technical supply and also low costs for energy.    

Poti serves as reloading point for sea freight within the entire South Caucasus and has regular maritime connections to Russia, Bulgaria, Turkey and to the Ukraine. At the landside the free trade zone is connected to the cross-border railway line Tbilisi-Baku from where cargo trains deliver goods to Central Asia at regular intervals. Due to the connections to freeways and nearby airports in Tbilisi and Batumi the region offers an easily accessible transport system plus a well developed infrastructure. Furthermore, the free industrial zone offers licenses for industry, trade, commerce and consulting, whose formalities will be handled within a few days. A good regulatory framework , with a 100% right of property e.g., feature excellent initial points for assembling factories.

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The German Business Association in Georgia (DWVG) is comprised of companies which are active in bilateral German-Georgian economic relations. The DWVG was founded in 2007 and currently has 32 member companies from various Georgian and German industrial sectors. The DWVG is a registered association and thus a non-commercial corporate body. The German embassy in Tbilisi is a consulting member of the DWVG board.

The DWVG’s aim is to enhance trade and economic relations between the Federal Republic of Germany and Georgia and to represent German business interests locally. Moreover, the DWVG is a service provider and supports German businesses in Georgia through promotional and networking activities, as well as research and consulting.
Source:German Business Association Georgia (DWVG)
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