Garibashvili Unveils Georgia's Infrastructure Plan, Stresses Significance of Middle Corridor at World Economic Forum
By Liza Mchedlidze
Friday, January 19, 2024
During the Diplomacy Dialogue on the Western Balkans at the World Economic Forum in Davos, Prime Minister Irakli Garibashvili reiterated his appreciation to EU leaders for their crucial support in granting Georgia EU candidate status. Emphasizing Georgia's swift economic development, the Prime Minister showcased the country's ongoing progress.
"In the last three years, Georgia's economy grew very fast and right now we're one of the fastest developing economies in the world.
Two years ago, Georgia's economy grew by 10.5%, also in 2022 by 10.4%. Last year, 7%. Inflation is very low; in the last seven months, it was below 1%. This year, we expect to have more than 5% of economic growth. This is a very conservative assessment.
Therefore, it's a very good, stable situation. Politically also, Georgia is very stable. Also, you mentioned trade, and everything is growing.
Of course, we are expanding our trade connections and relationships. I also want to mention that FDI was also a record number last year. Therefore, especially after the decision that was made in December that Georgia became an EU candidate country, we expect more FDIs to flow into Georgia.
My dear colleague, President Vucic, mentioned connectivity. Of course, Georgia, as you know, has a very important geostrategic location. We're absolutely committed to the development of this so-called Middle Corridor, which is becoming a very interesting and attractive alternative route," Garibashvili stated.
Garibashvili unveiled Georgia's comprehensive plan for infrastructure development and strategic collaboration, emphasizing the importance of the Middle Corridor. He outlined a clear roadmap involving Kazakhstan, Azerbaijan, and Georgia, with a focus on expanding port capacity and modernizing crucial transportation avenues.
"We have a very clear plan on how to develop this corridor - Kazakhstan, Azerbaijan, Georgia, and vice versa. We know exactly what needs to be done.
It means the expansion of port capacity. It means the modernization of our railways, airports, roads infrastructure et cetera. I'll share with you recent updates about these very important projects.
This year, we want to start construction of a new Deep Sea Port in Anaklia, Georgia, on the Black Sea. Also, the railway modernization is in progress, and this will be completed this year, and the capacity of the railroad in Georgia will be doubled, which will reach more than 48 million tons.
We're also going to start the construction of a new airport because we want to position ourselves as an aviation hub. Georgia, because of its location, has the full potential to develop and position itself as an aviation hub as well.
All the infrastructure projects such as the road, and east-west highway, everything is going to be completed this year. Other important projects also will be completed in two years' time." Gharibashvili said.
Prime Minister Garibashvili emphasized the significance of China's interest in the Middle Corridor.
"I also want to mention the importance of China's interest in this alternative route, the so-called Middle Corridor. I had a very successful trip to China last year. I met with President Xi Jinping, and we decided to elevate our partnership to the strategic level. China's interest was declared several months ago by President Xi regarding the Middle Corridor. And I think this will give more impetus and more energy to the development of this corridor.
Once again, I want to take this opportunity and publicly thank all the EU leaders who supported the historic decision to grant Georgia the EU candidate status. This is a huge achievement of our government because since we came to power in 2012, we made enormous efforts and big progress on our EU integration path - Association Agreement, Free Trade Agreement, Visa Free, and now this was culminated by this decision that Georgia became EU candidate country," Garibashvili stated.
