Georgia's PM Garibashvili Highlights Middle Corridor's Role at CAREC Conference

| News, Economy, Georgia

On November 30, Georgia hosted the 22nd Ministerial Conference of CAREC (Central Asia Regional Economic Cooperation). Prime Minister Irakli Garibashvili also participated in the meeting, the Press Office of the Georgian government reported.

Garibashvili stressed the Middle Corridor's importance: "As the significance of the so-called Middle Corridor is growing as a stable and secure alternative to traditional routes, we are committed to implementing large-scale infrastructure projects to facilitate the improvement of transportation and logistic connections. These include the development of a new Deep-Sea Port in Anaklia, the Black Sea Submarine Electric Cable, the Railway Modernization Project, and the construction of a new international airport in Tbilisi, to name a few. We acknowledge that numerous barriers still impede the swift movement of goods, vehicles, and individuals among CAREC countries. The seamless functioning of the Middle Corridor necessitates the establishment of joint checkpoint infrastructure enabling simultaneous border crossings between neighboring countries through a one-stop principle. This approach aims to minimize the costs of transporting goods and maximize the effective utilization of the latest technological advancements."

The Georgian leader also talked about the internal economic dynamics of Georgia: "To illustrate some of our progress, let me highlight that following the Covid pandemic, Georgia's economy rebounded with a double-digit growth rate of more than 10% in 2021 and 2022. My government has maintained this positive trend in 2023, with an average economic growth rate of 7% in the first nine months and an inflation rate of less than 1%."

"Acknowledging the growing energy demand and the urgency of addressing climate change, we are pursuing state-of-the-art ventures in renewable energy, including hydropower, wind, solar, and other sustainable sources. Our objective is to attract investors to establish more power plants to utilize Georgia's abundant green energy potential. Also, we work hard to develop projects in the field of energy efficiency and stand ready to develop relevant policies in accordance with the obligations of the United Nations Framework Convention on Climate Change (UNFCCC), as well as the EU-Georgia association agenda," he concluded.

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